RAYNE, LA -- Knight Companies, an oil field rental and oil field fishing tool company based in Lafayette, LA, is in the process of foreclosing the Rayne, LA, facility for Body Masters, a strength equipment manufacturer for 30 years.
Knight Companies also is foreclosing other assets of Body Masters, including most of the equipment used to manufacture Body Masters’ equipment, according to Dean Cole, vice president, general counsel for Knight Companies.
“If Knight completes the foreclosure process, Knight plans to acquire and use the manufacturing facility to manufacture oil field equipment and tools, and at the appropriate time, will evaluate the market for the manufacture and sale of exercise equipment,” Cole said in an e-mail.
A notice of seizure involving the Body Masters facility was filed Feb. 2 in the Acadia Parish Clerk of Court in Crowley, LA, according to a woman in the court’s recording department.
A source who has knowledge of the foreclosure says Body Masters has ceased operations for the time being, and the future of the company remains in doubt.
“I don’t know what’s going to happen,” the source says. “It was very disheartening that it will not continue moving forward, at least temporarily. It was a surprise.”