Everything Attachments - Bankrupt?

[joea]

I saw a post in a Kubota FB group about EA declaring bankruptcy. Thought it was BS as it originated on a TYM group, but the EA FB group is "paused" as of 2/1/2024

Their web site appears unchanged. I called but could only leave a message.

Anyone know the real scoop?

 

[MOOTS]

I noticed all of their commenting was turned off on FB last night too.

 

[hodge]

I hope that the real scoop will come out soon. They are a good business, and there is lots of supposition and innuendo going on. My opinion is that they should be given the benefit of the doubt until more information is available. I've read some pretty negative and inflammatory posts elsewhere, with no substance to back them up.

 

[madplanter]

Hickory contractor denies wrongdoing in factory dispute, seeks $1.9 million in liens against Conover company

Hickory-based contractor Neill Grading & Construction Co. is asking the courts to enforce $1.9 million in liens against Conover-based manufacturer Everything Attachments.

hickoryrecord.com

 

[utkdoc]

Wow. I am glad I finally received my grapple from the last fall! I can certainly say the quality is there. I'll be sad to see if they are no longer. I have been very satisfied with my grapple and box blade. I think my tractor will fall apart before these implements will.

That article sounds like a real dumpster fire between the two of them. What a mess.

 

[North Idaho Wolfman]

It could very well be a legal maneuver to keep the business going.
If you file certain types of bankruptcy, it protects the business from some collections.

Being a contractor , and having done manufacturing work I can see both sides of this battle.
Sadly the only one that wins is the lawyers!

 

[GreensvilleJay]

WOW... sure sounds like EA is 'toast'. If 'bankrupt'..the sad thing is that everyone who prepaid for their implements won't get their money back. They'll be 'unsecured creditors', might, get 5c on the dollar if lucky.
Two of my clients went bankrupt, 3 decades ago. 1 literally moved 2 miles down the road, reopened under another name, 223 creditors got nothing....
Recently Badboy filed and are bankrupt.(TVs, couches, washers, etc.) , over 4 MILLION in prepaids/ deposits will goto banks NOT the 1,000s that forked out their coins.

Someone must be able to search for 'court papers', but having to pay 2 mill in liens isn't looking good for EA.....

 

[jimh406]

Probably not great for those who ordered attachments.

 

[mcmxi]

WOW... sure sounds like EA is 'toast'.

Really? EA has been around for decades and I expect they'll be around for many more. EA filed a lawsuit against Neill Grading & Construction Co. last year for various breaches of contract and NG&C Co. has filed a countersuit. No doubt it'll all get sorted in the end.

Does anyone have any proof that EA has filed for bankruptcy?

 

[utkdoc]

They probably were advised by legal team to turn off comments or probably had a big influx of stupidity (as is the norm with facebook). I don't blame them for doing so.

This looks like a recent lawsuit - doubt this is bankruptcy after reading the article. I think they are trying to prevent a bunch of gossip from spreading until it is sorted out in a courtroom.

 

[mcmxi]

They probably were advised by legal team to turn off comments or probably had a big influx of stupidity (as is the norm with facebook). I don't blame them for doing so.

This looks like a recent lawsuit - doubt this is bankruptcy after reading the article. I think they are trying to prevent a bunch of gossip from spreading until it is sorted out in a courtroom.

Their webpage is still up and running. Like I said above, does anyone have any proof the EA has filed for bankruptcy. People love gossip and schadenfreud is alive and well, particularly by those who bought something other than an EA attachment.

 

[GreensvilleJay]

just because you've been around a long time doesn't mean you're OK...
Mel Lasman's Badboy ( 4 decades ??) now bankrupt .Financial guru said 'grew too fast' last few years.....

If their website is 'up and running' and they were NOT going bankrupt, I'd expect webpage #1 to say 'We ARE NOT BANKRUPT'........ This takes all of 10-15 minutes to do. By NOT doing this one simple thing, it kinda confirms they are 'in trouble'.
Should be able to find some kind of filings 'section 9 ?' or similar (protection from creditors ). That IS a sure sign they are in 'trouble'.

 

[MapleLeafFarmer]

They probably were advised by legal team to turn off comments or probably had a big influx of stupidity (as is the norm with facebook). I don't blame them for doing so.

This looks like a recent lawsuit - doubt this is bankruptcy after reading the article. I think they are trying to prevent a bunch of gossip from spreading until it is sorted out in a courtroom.

2x on say nothing / act business as usual would be a lawyers go to for just about everything and anything.

 

[PNWBXer]

The plot thinkens for sure. I that lawsuit article is from February of last year....so this has been going on awhile. Problem is the longer these things go the more damage to both companies is done. Lawyers get rich....Lenders will be fine. Somebody screwed the pooch....either EA is lying about the construction company to cover from a bad business decision (aka timing.....finincal commitments) or the construction company breached contract enough to justify the stop payments. Expanding is tricky if you dont have your ducks in order and can cover your promises to your costomers. Gotta wonder what the fall out is going to be?! A deep investigation yet timeliness by the courts means everything.

 

[North Idaho Wolfman]

A lot of people don't know that there are several types of Bankruptcy.
Some types of bankruptcy everything goes.
Other types allows the company to keep doing business.
It's not always a bad thing, either for the customers or for the business involved.

 

[DustyRusty]

About a year ago when people were discussing paying for attachments in full in advance, I said that it was a bad practice for both the business and the customer of that business. What I said could happen, appears to have come to fruition and all those people that have paid for an attachment to be delivered at a future time are now nothing more than unsecured and run the risk that they will never get their money back. Now, if you made the payment through your credit card or PayPal, you might have some leverage but you will need to check with your financial institution. The best that you can hope for is that they will file for Chapter 11 reorganization and that they don't have any debt to the federal government for employee taxes. The Federal Government gets the first bite at the apple, then the lawyers that provide services for the bankruptcy, next comes the state, and finally the secured creditors depending on what is left in the pot. Unsecured creditors get whatever crumbs are left if any.

 

[MapleLeafFarmer]

well it official!!

as we all know, once it gets covered by youtube it MUST be gospel right??

i hate the rumour mill / speculation that this new world has created as need everything instantly regardless if fact, fiction, or other.....

ps: is this guy shilling for homestead implements. (haha)

my EA wicked grapple is a single lid model and about 10 years old and still works like new and looks fantastic.

 

[Jim’sMX]

I tried to call several times today and no answer. Sent 2 emails, one to a rep I had previously contacted, nothing. Google says permanently closed for the business. Dang, I was ready to order today and found out 20 minutes ago they are shuttered.

 

[GeoHorn]

I tried to call several times today and no answer. Sent 2 emails, one to a rep I had previously contacted, nothing. Google says permanently closed for the business. Dang, I was ready to order today and found out 20 minutes ago they are shuttered.

“Dang.”..?? You might be one of the luckiest guys around with regard to this saga.

 

[fried1765]

Hickory contractor denies wrongdoing in factory dispute, seeks $1.9 million in liens against Conover company

Hickory-based contractor Neill Grading & Construction Co. is asking the courts to enforce $1.9 million in liens against Conover-based manufacturer Everything Attachments.

hickoryrecord.com

Yup....
I suspect this is the real EA story.
They have had a major pissing contest going on with the contractor for their new (yet unoccupied) building.
Apparently the chit has finally hit the fan!

I sure do hope that EA can effect a come-back in some form.