On August 11, 2025, IPG Franchising, a Florida-based vacation rental management company operating as Island Attitude and Platinum Vacation Villas, filed for Chapter 11 bankruptcy, exacerbating financial woes for property owners and renters owed significant sums.
The filing follows months of unpaid bookings and mounting lawsuits in Lee, Charlotte, and Osceola counties, with claims totaling hundreds of thousands of dollars.
The company’s struggles, attributed to the COVID-19 pandemic and recent hurricanes, have left investors like Terri Darr and Ron Jewell doubtful of recovering losses, spotlighting broader issues in the vacation rental industry.
IPG Franchising, led by CEO Graham Greene and President Jamie Greene, manages vacation rentals across Florida’s Gulf Coast, including properties on Manasota Key and in Bonita Springs.
Gulf Coast News reported that Terri Darr, a property owner, is owed nearly $23,000 for 2024 bookings at her Manasota Key rental, which was destroyed by Hurricane Milton.
“We’ve gotten none of it. They just stopped paying,” Darr said, expressing frustration and a sense of being “scammed.”
Similarly, renter Ron Jewell, who paid nearly $12,000 for a booking during the 2025 busy season, told Gulf Coast News he has “virtually no hope” of recovering his deposit.
Another owner, Alan Bush, reported a $12,000 loss for bookings at his Bonita Springs condo, stating, “You lose faith in humanity.”
The company’s bankruptcy filing comes amid over half a dozen lawsuits in three counties, accusing IPG and the Greenes of failing to remit hundreds of thousands in owed payments, per Gulf Coast News.
Florida’s Attorney General received eight complaints about IPG Florida Vacation Homes in 2024, while the Better Business Bureau (BBB) of Central Florida recorded 50 complaints over three years, with 28 in the past 12 months, leading to an F rating and revocation of the company’s accreditation in November 2024, as noted by BBB President Holly Salmons.
Company Blames Pandemic and Hurricanes
IPG’s attorneys, in an email to Gulf Coast News, attributed the company’s financial setbacks to the COVID-19 pandemic and hurricanes, including Milton, which destroyed IPG’s Manasota Key office.
“The recent pandemic coupled with the multiple hurricanes that have severely impacted Southwest Florida, our clients’ businesses have suffered significant financial setbacks and losses,” the attorneys wrote, adding that IPG is “working diligently” to resolve legitimate claims but cannot offer “immediate full resolution.”
The Greenes canceled a scheduled interview with Gulf Coast News, leaving stakeholders like Darr skeptical of repayment, especially as IPG continues to sell franchises.
The Chapter 11 process allows IPG to reorganize while continuing operations, but Darr, whose rental home faces demolition, expressed doubt, stating, “I hope people realize, if IPG is selling franchises and continuing to do business, that people will choose not to use them.”
IPG’s collapse highlights vulnerabilities in Florida’s vacation rental industry, a critical economic driver for the Gulf Coast.
The region, known for beachfront properties in Sarasota, Siesta Key, and Sanibel, relies heavily on companies like IPG to manage rentals, as noted by Gulf Coast Realty & Management’s website, which promotes similar services but is unrelated to IPG.
The failure to pay owners and renters has sparked distrust, with Bush lamenting to Gulf Coast News, “I’ve been to every government agency that I know of. We’ve done everything that we’re supposed to do. And we’re just losing money.”
Public sentiment on X reflects frustration, with @SNNTV reporting the bankruptcy and @EvanDean_
noting Gulf Coast News’ months-long investigation into IPG’s practices.
These posts, while not conclusive, underscore the community’s concern over unpaid funds and the company’s ongoing operations despite legal and financial troubles.
The lawsuits against IPG, only some of which have been resolved, signal a challenging road ahead for claimants.
The BBB’s Salmons highlighted a “failed follow-through and a challenge in communicating with the business,” a theme consistent across complaints.
The bankruptcy filing may further complicate recovery efforts, as Chapter 11 prioritizes restructuring over immediate payouts, per general bankruptcy law principles.
Florida’s Attorney General’s eight complaints in 2024 suggest regulatory scrutiny, but no specific actions have been reported, leaving owners and renters reliant on legal proceedings.
The situation draws parallels to broader economic challenges in Florida, where hurricanes like Milton have compounded financial pressures on businesses.
As IPG navigates bankruptcy, its case raises questions about accountability and oversight in the vacation rental sector, particularly for small property owners and seasonal visitors.
What do you think? — Leave your thoughts below.
Trump Now Threatens To File A Lawsuit Against Powell For Sinking Economy
Visit the News Hub for our extensive library of news, or read news for you below.
About The Author
