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Author Topic: Dealer closed due to unpaid bills.  (Read 3393 times)

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muddypaws

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bbrown

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Re: Dealer closed due to unpaid bills.
« Reply #1 on: July 17, 2019, 07:51:10 AM »

This is not good.  One our favorite stops...
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Serdvd6

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Re: Dealer closed due to unpaid bills.
« Reply #2 on: July 17, 2019, 09:47:49 AM »

Too bad, now all these people are out of jobs!
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CVODON

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Re: Dealer closed due to unpaid bills.
« Reply #3 on: July 17, 2019, 09:50:30 AM »

That is to bad, lost jobs,convience for patrons. Too Bad.
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Ironhorse

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Re: Dealer closed due to unpaid bills.
« Reply #4 on: July 17, 2019, 10:43:23 AM »

It's sad, but it seems to be the way a lot of folks do business. Don't pay bills, then claim bankruptcy and walk away, or sue their creditors.
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scottt

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Re: Dealer closed due to unpaid bills.
« Reply #5 on: July 17, 2019, 01:37:22 PM »

Feel for anyone that bought a bike there, especially recent purchases.

Gotta wonder; did they pay off customer trade ins? Did they pay the state taxes and lic. Fees on recently sold bikes? Did they pay aftermarket part suppliers for parts installed on customer bikes? Good luck with any warranty if not.

So many ways for customers to get stuck.

Employees can get stuck if they were not paying there health insurance premiums, if they didn't pay there Social security and Medicare taxes near the end yet took the funds from there paychecks. Seen this happen including to myself. Didn't get SSI credit for a entire year i worked even though it was deducted from my pay.

It's just all bad.

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Ironhorse

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Re: Dealer closed due to unpaid bills.
« Reply #6 on: July 17, 2019, 01:40:02 PM »

You gotta wonder, was it really mismanagement or just pure driven greed?
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Mark

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Re: Dealer closed due to unpaid bills.
« Reply #7 on: July 17, 2019, 01:48:17 PM »

With bike sales tanking, it was only a matter of time before we started seeing contraction.  Just like when auto sales tanked in the great recession, the small dealers were the first to go.  Sadly, we are going to see more of this.   
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Ironhorse

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Re: Dealer closed due to unpaid bills.
« Reply #8 on: July 17, 2019, 02:32:24 PM »

With bike sales tanking, it was only a matter of time before we started seeing contraction.  Just like when auto sales tanked in the great recession, the small dealers were the first to go.  Sadly, we are going to see more of this.

Oh I get that businesses closing is reflective of the state of the economy, but that doesn't explain why they sold bikes and never paid HD for them. And of course it's the little guys who get screwed, the customers and the vendors. If they're lucky they may see their money eventually, but it may be "tied up in court" for a long time. Another well abused tactic by unscrupulous business owners driven by greed looking to make a buck off the unsuspecting. Then file bankruptcy and walk away paying pennies on the dollar. 
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Mark

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Re: Dealer closed due to unpaid bills.
« Reply #9 on: July 17, 2019, 09:16:42 PM »

Oh I get that businesses closing is reflective of the state of the economy, but that doesn't explain why they sold bikes and never paid HD for them. And of course it's the little guys who get screwed, the customers and the vendors. If they're lucky they may see their money eventually, but it may be "tied up in court" for a long time. Another well abused tactic by unscrupulous business owners driven by greed looking to make a buck off the unsuspecting. Then file bankruptcy and walk away paying pennies on the dollar.

The business closing isn't reflecting the economy - our economy is stronger than it's been in decades - it's a reflection of lagging sales.  What happened here is an example of a typical business collapse...if you don't have the sales to generate income, debts can't be paid...then it becomes a financial shell game trying to stay afloat, but eventually everything collapses.  This dealer didn't pay debt because they couldn't...not because they simple chose not to.  You can't pay what you don't have.
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kevin_n

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Re: Dealer closed due to unpaid bills.
« Reply #10 on: July 17, 2019, 09:21:58 PM »

I don't think it will be closed for long. There is another local dealer that was trying to buy it. Not sure how it closing changes things but I think it will be back open, it's in a convenient location. Of course that is just my opinion and I have been wrong before.  :)
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scottt

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Re: Dealer closed due to unpaid bills.
« Reply #11 on: July 17, 2019, 10:43:20 PM »

The business closing isn't reflecting the economy - our economy is stronger than it's been in decades - it's a reflection of lagging sales.  What happened here is an example of a typical business collapse...if you don't have the sales to generate income, debts can't be paid...then it becomes a financial shell game trying to stay afloat, but eventually everything collapses.  This dealer didn't pay debt because they couldn't...not because they simple chose not to.  You can't pay what you don't have.
The honorable thing to do when a business can't pay it's bills is to be upfront with creditors. File chapter 11, if the owner knows it's a lost cause you do the honorable thing; first tell the employees you won't be open the next day, have there pay ready along with information that helps them continue health insurance. Next you tell your vendors and the mother company the truth.

You take the bull by the horns and tell the truth, be upfront.

There is no disgrace in failure, there is disgrace in not being truthful. Not being moral. Sadly we are missing a lot of that today.

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bbrown

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Re: Dealer closed due to unpaid bills.
« Reply #12 on: July 17, 2019, 10:53:52 PM »

I agree. Since they are close to the Mothership,they sold a lot of bikes at discount and excellent financing to anyone....wonder if that is/ was the issue.
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Ironhorse

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Re: Dealer closed due to unpaid bills.
« Reply #13 on: July 17, 2019, 11:46:39 PM »


There is no disgrace in failure, there is disgrace in not being truthful. Not being moral. Sadly we are missing a lot of that today.

Yup, lots of that going on these days.

Hopefully things will be made right for the customers and employees.
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scottt

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Re: Dealer closed due to unpaid bills.
« Reply #14 on: July 18, 2019, 12:37:51 AM »

I agree. Since they are close to the Mothership,they sold a lot of bikes at discount and excellent financing to anyone....wonder if that is/ was the issue.
If they were selling bikes to buyers that frankly didn't really qualify, the only way that's done is if the dealer guaranteed the loans or paper in industry speak. When Harleys got soft on the resale market it wouldn't take long to get a lotta bikes back, resulting in huge losses.

Not saying this happened, just one way it could have. The weak used Harley prices could effect a dealer that backs paper big time.

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