Lil Snoozy shuts down

[Mike G]

Originally Posted by Dave Walter

Sad to see that prospective buyers who have put down large deposits to secure a Snoozy will likely lose the whole deposit. I also suspect that any current Snoozy owners who require warranty work will also be out of luck. I guess this brings new meaning to the old saying that "if you Snooze - you lose"!

Copycat. Exactly what I posted on FGRV a few days ago.....

[Dave Walter]

Originally Posted by Mike G

Copycat. Exactly what I posted on FGRV a few days ago.....

Never saw your FGRV post. And I really don't care much for cats!

[Seneca]

oh well, great minds think alike.

My guess is that the only way any of those customers get any of their money back is if the previous owner of the business and current landlord was also getting paid as a 'consultant' to the current owner and his involvement in the business is sufficient to allow a bankruptcy trustee to claw back payments made by the business to him or implicate him in a scheme in which deposits where being channeled through the business to him (as rent, consulting fees or payments on purchase money financing if that was used in the sale of the business). He's the only deep pocket around. You can rant and rave about the current owner's failings all you want, but in the absence of actual criminal conduct, he's just the first victim of his own incompetence.

BTW, federal bankruptcy trustees are employees of the Department of Justice, and they know when and how to make a criminal referral. It serves no purpose (other than venting, I suppose) to run around making libelous accusations without any knowledge of the situation (though I don't imagine the poor guy whose business just failed is in any position to do much about it).

[davidmurphy02]

Originally Posted by Dave Walter

And I really don't care much for cats!

Well, maybe you just never met the right cat

[JDMan]

I live about 40 miles from the "plant" on I-26 just southeast of Columbia,SC. Every time I drove by on my way to Charleston, never saw much activity, maybe one unit outside. It was next door to a fiberglass pool manufacturer.

[paulk]

Maybe ETI is putting these other fiberglass players out of business by making a higher quality product for reasonable prices. They've been growing a lot recently, and that growth has to be coming at least partly from other manufacturers.

Feel sorry for any customers who lost their deposit though AND also for the owners/investors who most likely tried their hardest to run a business, but came up short and probably lost everything.

[rbryan4]

Originally Posted by paulk

Maybe ETI is putting these other fiberglass players out of business by making a higher quality product for reasonable prices.

I doubt it. Snoozy made a high quality trailer at a price point that was in line with other fiberglass units of similar size. I never cared for them personally, but you could even stand on the roof, rock solid. It was just mismanagement by a guy who was probably in over his head.

Reace on the other hand had a formal education in business before he started making trailers, and it's served him well. Well, that plus several other factors - like his personal integrity.

[Mike G]

One on the southeast coast, the other on the northwest coast. Totally different floor plans and everything. In competition, but not too directly.

[MyronL]

Damn tragic, that sudden shut-down. Feeling rotten for those who, it seems, have lost their hefty deposits.

[Erik65]

A company that is in financial trouble and continues to take huge deposits from customers knowing that they don’t have the operating capital to continue is committing a crime. When you add the component of mailing a deposit check and the company accepting it, that’s a federal crime.