I suspect that someone had the lens apart and didn't start the helical threads at the right place. Or if you're lucky, the bezel on the front has slipped due to the screws backing out a little, and is not where it's supposed to be. Either way you need to loosen the grub screws (over a towel or a box just in case they fall out), then see if you can get infinity w/ a gg on the film plane.
A 50mm SLR lens makes a handy loupe if you don't have one, and tautly stretched Scotch Magic tape will do for a GG if you don't have one of those. I usually use a focus screen from a TLR, but anything that works is fine.
If you can't get infinity, which generally on those cameras is 100' to 150' or so, or if the lens seems to be in the wrong place for that (i.e. screwed in too far or out too far) you'll have to screw the lens all the way out and restart it in different places to get it right. Be sure to make a little mark at which places you restart it, or you could be there a while :] When you get it sorted out, you'll discover that they take wonderful photos!