Ch. 7 Bankruptcy Filed 9/6/18

Its a class act other venders are picking up the fallout from pelfreybuilt. Guess a mob town or shrockworks rear bumper for me. Unless I go dumpster diving over at lasernut.

 

Thank you. Crowdfunding for bumper money lost? Jesus.

 

As has been mentioned, bankruptcy varies from state to state, judge to judge, and circumstances to circumstances.... Even if you know the wording of laws per this particular application, until you hear how the judge in this case interprets those laws and circumstances, it's anybody's guess as to what will happen with already constructed inventory. I've been closer than I cared to get to several bankruptcies in the construction industry. That is the primary reason I chose to get away from that line of work, years ago....Too many contractors defaulting.... At any rate, judge/arbitrator may decide inventory has to be scrapped as opposed to sold. I can see that scenario unfolding in 10 different directions. Who would assume product liability going forward being just one tipping point.... This entire event is sad on so many levels. Pardon me if I'm not too sympathetic to the plight of those who made the decisions (Pelfrey's) that led us to this day.

The thing about being a victim of a bankruptcy.....The hits just keep on coming. There'll seemingly be dozens of ways that could lessen the impact, but seldom, if ever, does any of those things come into play. Not trying to be negative, just don't expect miracles.

 

Damn @Synergy001 youre on the list too?

You just got #Sige!Slapped

 

@BVita Yeah not sure why I'm on the list. Maybe they want to give me some monies

Sige, sige, sige! Gud, gud, gud! Byutipul!

 

Sige!

 

the high Tariffs on steel made him rob from others

 

Well obviously she was talking shit about him online as he walked in....It's all her fault.

 

Dumpster diver dumpster diver!!

 

Hey gang,

I’m a neutral party here and I’d like to get a few things I’ve read cleared up. It doesn’t change the fact that people are out money but it may clear some rumors that aren’t true about the Pelfreys.

Yes, they both filed for bankruptcy in the past. Tyler filed when he got into a motorcycle wreck and couldn’t afford the massive medical bills. He didn’t know Satin at this time.

Satin then filed for bankruptcy in 2009 after an abusive alcoholic ex husband left her in debt.

Tyler doesn’t own a motor home and you’ve been casing the wrong house. <—- This concerns me the most. People are capable of anything these days and I’m not sure what you’re planning on doing when the owner of the motor home comes out of their home but a $1000-$8000 loss isn’t worth going to jail over.

Tyler didn’t work at Laser Nut. He worked at a shop in Poway prior to doing Pelfreybilt full time.

The investor talk was real and they also reached out to others for a buy out but a few of those companies had just made a few big purchases and couldn’t help. I can’t disclose names but some of you are pretty smart and can figure out who just made a big purchase of another fab company recently.

Again, I’m not trying to justify anyone’s actions here. I just wanted to clear up the rumors. This is a fucked up situation for everyone.

 

That's all great and fine, but how do you explain them taking money from people when the chapter 7 filing was imminent? There's a guy on FB that has an email from Satin on 9/6 still saying that the "investors" were still in the works! Criminal bull shit. I really don't think that anyone gives a rats ass about their past, it's their present day actions that matter.

 

Agreed, this stain alone is what has most very confused about their current mentality. As others have said, different situations can cause folks to operate differently. Im sure deep down the pelfreys would like to be honest people...but their actions at the end say otherwise.

 

I genuinely think people get stupid and denial sets in.

They get themselves into trouble and convince themselves they can still fix it and its going to get better they aren’t going to lose their business and they refuse to accept reality.

 

It is setup as a corporation, which by definition is treated as person. I can't tell you if it is an S-Corp or a C-Corp, but from my reading on it this weekend, the critical factor will be whether or not Satin and Tyler are the only shareholders in the corporation. My understanding is that there may be some original investors in the company, who could potentially be shareholders, which may prevent liquidation of Pelfreybilt Offroad, Inc.

 

I don’t want to turn this into an argument. Read my post again. I’m a neutral party with two friends affected by this who paid for their 5th gen rear swing outs last year. I’m not justifying any business decisions. I’m just clearing up rumors.

 

This is true, at the same time its not always easy to start to accept failure and start the next process if one isn't really experienced in it. I bet they thought they could ride the storm out according to their story although I still hold concern that at some point they started to have intentional tactics which it sounds like they took orders long after they should have.

To continue to be silent during a legal proceeding can be acceptable for now, but when the process is officially in motion and they don't come forward then or at any point going forward with some sort of "clearing the air" and develop some level of responsibility or a plausible course of action...then yea man I say they need to accept the bed they are creating.

 

Thanks man!

 

A tell-all from them is coming soon.

 

If you can find his contact information re the 9/6 sale, please let me know.