Ch. 7 Bankruptcy Filed 9/6/18

Sounds like I got lucky. Got my front bumper in June. Must have been one of the last customers to receive their order. I was pressured to pay with cash on both my Pelfreybilt orders, but chose not to. I ran an outdoor retail store for 10 years so I understand how credit card fees eat into profit, but the way they stressed cash/ach payment, made me very uneasy. I ordered my rear bumper last November during their Black Friday sale. I was supposed to get a Yeti rambler with the purchase but didn’t. When I called to inquire, they said they didn’t order enough and was basically sol. Thank god I got my bumpers though. Really sucks for all the paying customers that got screwed. I thought Pelfreybilt was one of the most standup companies on TW. I was totally wrong.

 

Upon filing their petition the court notified them that they were missing:


Schedules A/B−J
Statement of Financial Affairs
Summary of Assets and Liabilities and Statistical Information
Schedule A/B − Real and/or Personal Property
Chapter 7 Statement of Exemption from Presumption of Abuse (122A−1Supp) (individual debtors only)

They have 134 days to remedy those deficiencies. This is pretty common in bankruptcy filings, they rush to beat a deadline of some sort, knowing that they can add those documents later.

 

I hope so!!! I was reading about them having "too many vacations to Hawaii and Alaska...", which I can't confirm/deny, but the likelihood that they enjoyed a "lavish lifestyle" is highly, very highly probable while the rest of the hard working people out there are struggling to save up just so they can get what they want for their truck.

Or let me put it a slightly different way, there are good honest people out there struggling to make ends meet and they aren't even thinking about themselves and only thinking about their families and loved ones!!! It doesn't take very much thought of where I am going with that last statement!!!

So yeah, I hope you're right about the judge/court/whatever???

 

I thought they had to liquidate the company's assets and therefore wouldn't be forced to give up their own with this...

I'm not a lawyer and since I read this entire thing til 1:30am this morning, and haven't had coffee yet...

The company is done but the individuals should come out of this fine.

Please, correct my inaccuracies.

Maybe a thread synopsis is in order?

 

I wonder what is considered a lavish lystyle these days. Hawaii and Alaska doesn’t scream lavish to me.

 

They seemed to enjoy taking their trucks with them...
What's it cost to ship a vehicle to Hawaii and back?

 

What a shitty way to run a business into the ground... While lining your pockets and fucking your customers. And to call asking for more money when you know you are about to go belly up. Pathetic. Good luck to all that got caught up in this scam. Hopefully your cc has your back.

 

it certainly can get that way. You can take 500K of customer money and rent a 5K/night house and take helicopter rides and hunt a human being

 

I think this serves as a lesson for everyone. We should all be praying and remain faithful to the one true god of custom off-road products: @mesojdm and MesoCustoms.

 

Life has a funny way of getting people back for things they've done to others. Most of us call it Karma but whatever it is, it will come, trust me.

 

Seriously, as the saying goes:

Want to make a small fortune in aerospace? Just start with a large one!

For whatever reason the romance of flying attracts the worst business plans and practices. From the little guy all the way up to billion dollar concerns.

Back on topic. Does anyone yet understand the deal with what appears to be a personal bankruptcy along with the actual structure of the company itself? The best I’ve been able to discern is that they likely had to personally guarantee business loans to even if the company was incorporated (S-Corp I’d presume) they’d still be on the hook personally. But presumably there is some sort of filing for the company itself? I suppose it is all academic at this point...

 

the universe doesn't care.

 

Dude what is your deal. Just a fly on the wall in this thread but I don’t see what you’re trying to do? Are you trying to tell people to stop crying about their losses in goods? Are you saying that if you can afford a Tacoma you should be able to fly out of the lower 50 for vacation every year? I’m seriously confused. I can’t tell if you’re clueless that you come off as an ass or just enjoy trolling angry people.

 

They rented jeeps when they came here.

 

HAHAHA, yeah, true there.

But honestly, it kills me brotha to see homeless (sometimes that homeless person is just in bad times), and the mentally Ill are on the streets in the cold.

Roughly 2wks ago, I had a woman open a door for me at a 7-11 and reached for the handle before I could even grab it I was that far away (she was doing this to everyone). The point being, she was obviously homeless and obviously a little retarded (not trying to be a dickhead... just saying). I got my morning coffee and a few other things, I step out of the store passing her up, just about to open my car door, and I turned around going back to her to give her what little change I had left from my purchase.

Then I read shi* like this with Pelfry possibly not paying any real consequences for their actions while I see shi* on the daily and can't really do shi* about it to help the less fortunate. Hurts my heart brotha and not gonna lie about it!!!

 

They probably ran out of funding for the company and took out personal loans for the company thus the personal ch 7 to protect assets like a house, etc.

Whichever the case, if they spent all the company revenue on personal items then took out personal loans to run the company and now filing ch 7 to get those loans charged off, this could easily turn into a felony fraud case.

 

Anyone on here popular on Pirate4x4? Or any other forums? I’ve only seen this here and Tacoma3G..... Should cross post to as many places as possible... I’m not registered on there, just a lurker, so I’m not a good candidate...

 

Meh, their sliders have no logo and look like a thousand other sliders on the market. They were on sale and I could drive to pick them up. I got lucky that I got anything at all in the end, picked them up in March so before it all hit the fan. Hope those who aren’t so lucky eventually get their dollars back one way or another.

I’ve also got All Pro Expos and an All Pro Aluminum rear bumper. Also before that unpleasantness.

And of course a FlipPac from FRP - they folded after 20+ years a few summers ago a little more than a year after I bought my FlipPac from them.

I also kill restaurants. Endless list of places I was a “regular” that fold shortly after I discovered them and got into a nice little rut going there nearly every day.

If you want to avoid ordering from a sinking ship just follow my build thread. If I’ve installed it recently be extra careful...

 

Sounds like it may not be, and they might in fact be con-artists based one what some people are uncovering about them.