GreensvilleJay
Well-known member
Equipment
BX23-S,57 A-C D-14,58 A-C D-14, 57 A-C D-14,tiller,cults,Millcreek 25G spreader,
From what I've read 'legally' EA didn't go bankrupt (ie: file BANKRUPTCY papers..) instead is trying to 'restructure the business model to stay IN business, part of which was selling some assets to pay DOWN, not OFF debts.
However when you look at the 'numbers', EA is/was millions in the red, so us mere mortals WOULD call EA bankrupt.
Frankly I don't know how ANY supplier would deal with EA unless it was COD. I know ,different land, different laws but most have heard of 'once bitten,twice shy' ?
I've had 2 customers, both several million a year businesses formally declare bankruptcy here in Ontario.BOTH did the same 'run around'. On a long holiday weekend , moved most of the assets to a new location and use a new incorporated business name. One stiffed 255 suppliers. Since my energy mgmt system also doubled as security, even if a wire was cut, the trustees made sure I was 'made whole'. The others got about 5 cents on the dollar
However when you look at the 'numbers', EA is/was millions in the red, so us mere mortals WOULD call EA bankrupt.
Frankly I don't know how ANY supplier would deal with EA unless it was COD. I know ,different land, different laws but most have heard of 'once bitten,twice shy' ?
I've had 2 customers, both several million a year businesses formally declare bankruptcy here in Ontario.BOTH did the same 'run around'. On a long holiday weekend , moved most of the assets to a new location and use a new incorporated business name. One stiffed 255 suppliers. Since my energy mgmt system also doubled as security, even if a wire was cut, the trustees made sure I was 'made whole'. The others got about 5 cents on the dollar