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.