Steve_Mack_CT
Senior Member
That may be. No response to my email or vmail today despite a big error on their part and a significant amount put down.
Lebaron Bonney
- Thread starter jm29henry
- Start date
Jeff/Illinois
Well-known member
Bob, as it looks as though they are filing for bankruptcy, I pity the guys that put money down for orders and such. They are going to be SOL.
No $$ returned. No product delivered.
I guess I'm curious to what happened to such a stellar company with a past excellent reputation
How did they go belly up? New owners didn't know what they were doing perhaps......
No $$ returned. No product delivered.
I guess I'm curious to what happened to such a stellar company with a past excellent reputation
How did they go belly up? New owners didn't know what they were doing perhaps......30 Closed Cab PU
Well-known member
There is always a chance things were covered up and the new owners did not realize what they were getting into/extent of problems.
Where I worked, 3 years before selling the company lots of sneaky but legal things were done to inflate the value of the company. EX; deferred maintenance, inflated future sales projections, downplaying product/production issues, etc.
One of the other sites mentioned there was a rumor that they had a couple of key people retire, and they could not find suitable replacements with the production skill levels required.
Where I worked, 3 years before selling the company lots of sneaky but legal things were done to inflate the value of the company. EX; deferred maintenance, inflated future sales projections, downplaying product/production issues, etc.
One of the other sites mentioned there was a rumor that they had a couple of key people retire, and they could not find suitable replacements with the production skill levels required.
Mike V. Florida
Well-known member
I read that one of the employees bought the business end a year ago. Then came new owners for the building and an increase of rent forced him to more the custom business to Maine, reduce the sq footage from 50k to 10k and the cost per foot to rise.
His biggest mistake I see, and take to for what it's worth, was underestimating the loyalty of the customer base. Once he started to fall behind a note to all the major car clubs/groups was in order explain how the equity firm that owns the business was going to close the doors and he stepped in to save it. A statement to please bear with him as he transitions from labor to labor and management. A statement that it is his firm desire to provide the service and products people have come to expect.
I think this would have gone a long way. He alienated the customers and they found others to fill the void.
I hope it is not true, I pray things work out for him.
His biggest mistake I see, and take to for what it's worth, was underestimating the loyalty of the customer base. Once he started to fall behind a note to all the major car clubs/groups was in order explain how the equity firm that owns the business was going to close the doors and he stepped in to save it. A statement to please bear with him as he transitions from labor to labor and management. A statement that it is his firm desire to provide the service and products people have come to expect.
I think this would have gone a long way. He alienated the customers and they found others to fill the void.
I hope it is not true, I pray things work out for him.