Status of Everything Attachments

[MossRoad]

I worked for a fixed base operator at the local airport in 1980. One of the two business partners embezzled most of the funds, and it went belly up. The bankruptcy court appointed a comptroller to oversee it. Fortunately, he found buyers, and we all got to keep our jobs with the new owners. Had he not found buyers in a given time period, he was to liquidate all assets.

So who knows what'll happen with EA's assets? It's all speculation at this point.

 

[shooterdon]

I worked for a fixed base operator at the local airport in 1980. One of the two business partners embezzled most of the funds, and it went belly up. The bankruptcy court appointed a comptroller to oversee it. Fortunately, he found buyers, and we all got to keep our jobs with the new owners. Had he not found buyers in a given time period, he was to liquidate all assets.

So who knows what'll happen with EA's assets? It's all speculation at this point.

It seems the EA issue is not an orderly Chapter 11 bankruptcy under which the company continuous to operate until things get sorted out.

There are reports of no employees at the site.

There are rules wrt filing for bankruptcy and the owner may not have been able to do so. But I did not stay at a Holiday Inn last so will not play attorney.

I am 99% sure that under a Chapter 11 filing, current orders would still be filled and that does not appear to be happening.

IMO the EA goose is stuffed, cooked, left in the oven too long and not edible.

 

[CliffordK]

"It will be curious when all of the details come out". With this many government agencies involved - I wouldn't hold my breath.

Often lawyers recommend that their clients don't talk to the media.

Yet, if this goes to trial, eventually a bunch of information will become public record. Of course that means people will have to follow up on the details in a couple of years.

Some of this seems to revolve around an expansion of the facility, and non payment and code compliance issues.

 

[two_bit_score]

Yet, IF this goes to trial, eventually a bunch of information will become public record. Of course that means people will have to follow up on the details in a couple of years.

That public record will be buried in the court documents so, unless a reporter covers the trial closely, its unlikely any of the details will be as forthcoming as you might think.

 

[Torvy]

Well, there was DeLorean that got caught for doing some off-books deals.

Everything Attachments was apparently an established company, but then was apparently going through a huge growth cycle that all came crumbling down on top of them.

Perhaps not unlike some new companies that struggled to get financing to match their products. DeLorean, Tucker, etc.

Perhaps not too different from many startup companies that struggle to get products out the door. In this case, EA was growing by perhaps 10 fold that instead tumbled to zero.

It will be curious when all of the details come out.

DeLorean was far from top quality. It looked cool, but quality was crap.

 

[fredgoodsell]

It's such a shame. I can't think of other businesses that consistently made top quality product where the owner cheated elsewhere.

Happens in the off-road world a fair bit. Pelfreybilt was a very popular fabrication company, made good stuff by all accounts. Their wait times got longer and longer, and then very similar to EA it all blew up. A bunch of people lost big chunks of money on goods they never received.

 

[buckeyefarmer]

I have a wood stove that was made by a really good small company. They went belly up after landing a large contract that they just could not adjust in size to make the product.

 

[Rock Crawler]

Happens in the off-road world a fair bit. Pelfreybilt was a very popular fabrication company, made good stuff by all accounts. Their wait times got longer and longer, and then very similar to EA it all blew up. A bunch of people lost big chunks of money on goods they never received.

Kenny Hauk who owned River Raider Off Road / HAUK Off Road did similar. They were quickly up and coming in the Jeep/Bronco world, had some History Channel TV show deals doing custom build shows, and all of the sudden they vanished in the blink of an eye, back in about 2022. They also were doing pre-orders and screwed a bunch of people out of money as he was crashing and burning. It is all gone and all but forgotten at this point, much like I expect EA to be in a year or 2.

 

[ning]

Happens in the off-road world a fair bit. Pelfreybilt was a very popular fabrication company, made good stuff by all accounts. Their wait times got longer and longer, and then very similar to EA it all blew up. A bunch of people lost big chunks of money on goods they never received.

Putting my conspiracy hat on
Maybe they deliberately increased lead times while making a quality product, so that the market would be used to saying "it'll take a while but you won't regret ordering it!" so eventually he could just collect a bunch of order money and bail out?

well conspiracies are usually dumb so let's go with no

 

[two_bit_score]

Putting my conspiracy hat on
Maybe they deliberately increased lead times while making a quality product, so that the market would be used to saying "it'll take a while but you won't regret ordering it!" so eventually he could just collect a bunch of order money and bail out?

well conspiracies are usually dumb so let's go with no

Makes as much sense as other theories about EA spread on this thread already.

 

[ning]

Makes as much sense as other theories about EA spread on this thread already.

crazy thing is they're all correct!

 

[plowhog]

Back when the original IBM PC was introduced, "clone" computers were sold that were IBM compatible but for about half the price. Including a long warranty-- 5 years, lifetime, whatever. The components were cheap and substandard; hence, the low price.

The local company sold these by the thousands. Made a ton of money and totally screwed up the competitive landscape. After about a year, they would close shop without notice. Suddenly, the business location would be empty and vacant. They they would re-open a short time later in a different location using different name. Same owners and workers.

All promised warranties were "void" since the company that made those promises was closed and defunct.

They did that through several cycles before it stopped.

 

[workinonit]

Shingle manufacturers have been pulling that stunt for years. A 25 or 30 year shingle is laughable. There's not a shingle company that's ever been around long enough to make good on very many warranty issues.

 

[buckeyefarmer]

Back when the original IBM PC was introduced, "clone" computers were sold that were IBM compatible but for about half the price. Including a long warranty-- 5 years, lifetime, whatever. The components were cheap and substandard; hence, the low price.

The local company sold these by the thousands. Made a ton of money and totally screwed up the competitive landscape. After about a year, they would close shop without notice. Suddenly, the business location would be empty and vacant. They they would re-open a short time later in a different location using different name. Same owners and workers.

All promised warranties were "void" since the company that made those promises was closed and defunct.

They did that through several cycles before it stopped.

When gateway computer was getting big, had a friend who had to buy from a local shop. They closed long before gateway did, but eventually it didn't make it either.

As for shingles, company i used are still around 30years later, but in general, warranties are about worthless, they have so many gotcha's. Like Costco wouldn't honor the road hazzard warranty on my tire that got a big nail in it that couldn't be plugged, because I didn't have paperwork to show the tires had been rotated every 7K miles.

 

[workinonit]

If you start checking on these shingle companies they will just change their name after so many years. Even the big ones like Owens Corning.

 

[CliffordK]

We're seeing a lot of old companies with expired trademarks reappearing, completely unconnected with the original company.

In the bicycle world, one gets Schwinn, Mercier, Motobecane , and several others that are just names.

I'd imagine the same is happening with tools.

 

[ning]

Shingle manufacturers have been pulling that stunt for years. A 25 or 30 year shingle is laughable. There's not a shingle company that's ever been around long enough to make good on very many warranty issues.

My shingles were installed the year I hit 40. Manufacturer's lifetime warranty - mine lifetime. Damn herpes zoster virus.
(actually it was installed whenever it was that I had chicken pox, but I have no recollection of that. definitely remember when the shingles outbreak was though)

My house was shingled in 1990, and while the roof is definitely suffering and I wouldn't buy the house without expecting to immediately re-roof it, it doesn't leak - and I've checked in the attic multiple times.

 

[cathy liebchen]

It seems the EA issue is not an orderly Chapter 11 bankruptcy under which the company continuous to operate until things get sorted out.

There are reports of no employees at the site.

There are rules wrt filing for bankruptcy and the owner may not have been able to do so. But I did not stay at a Holiday Inn last so will not play attorney.

I am 99% sure that under a Chapter 11 filing, current orders would still be filled and that does not appear to be happening.

IMO the EA goose is stuffed, cooked, left in the oven too long and not edible.

The case will be converted to a Chap. 7

 

[5030]

It's hard to keep the doors open when there are a lot of companies that pay in 180 days, 360 days,

In my business, that is the norm actually but they do pay eventually and even sooner if I have another job in the shop for them. Guess they feel guilty or something. I have to have working capital or I'd go **** up pretty quick.

 

[dodge man]

Shingle warranties are very good as long as you meet all the requirements, like the Pope personally sprinkling holy water after the shingles are installed.