BBX Capital, a publicly traded Fort Lauderdale firm headed by longtime banker-entrepreneur Alan Levan, says it is scaling back its operations with an eye toward selling some of its real estate and other assets. The company, citing economic uncertainties, announced it intends to deregister its stock.
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BBX Capital, a longtime diversified Fort Lauderdale firm headed by veteran entrepreneur Alan Levan, said Tuesday it is embarking on a campaign to restructure its operations, reduce staff and deregister its stock in a bid to cope as the company foresees the onset of a national recession.
“We just are concerned about what we’re seeing on the national economy and what’s going on in Washington between tariffs, between volatility and high interest rates,” Levan, the chairman and CEO, told the South Florida Sun Sentinel in a telephone interview. “Consumer confidence is getting lower and lower and we’re in businesses that rely on consumers.”
