He never could get them wholesale the first time around, and I warned him about that, and I told everyone else the same. Nobody that he could deal with was going to give him a super sharp deal, especially when the large volume distributors get first dibs to the monthly shipments from asia.

I think it curious that he has stock remaining,  a good amount actually, and makes it seem like he can't liquidate. He can definitely liquidate and be out less. Unless he already liquidated and just didn't say anything.

Seems like he can put this as business #3 that he ruined.