He did provide an explanation. They bought a polished turd.
The CE who bought it is gone. I think it might be a simple case of ambition outstripping ability.
It seems to be improving but CCE dont have the coin to absorb it and so their still needing to fire sale it. And that may mean they can't keep the good parts.
Sadly this puts them back to a one trick pony, high risk low cash flow venture.... From what I read of it any way.