SHROCKWORKS out of business?

[S13Koop]

OA actually sent an 18 wheeler by on 10th before owner showed up to collect the above bumper . They arranged their own shipping to satisfy their customers order . SW $ wise had not shipped out anything in some time hence the 20+ bumpers crated up awaiting shipping. I would not hold my breath that any of the ones crated up or otherwise will see customer hands outside of an asset liquidation from bankruptcy ect.

OA did this on their dime for the shipping costs Thomas at OA is an awesome dude to deal with.
the truck arrived about an hour before owner gave us all the axe LOL very lucky indeed.

yea, there's a few items not in the pic but I don't think the skid plate was in there. I'll double check tomorrow. If it matters I have RCI full skids (on 4runner) so not sure if they're compatible with SW bumper.
I actually reached out to Thomas Tuesday after seeing things unfold but he assured me I was good. Definitely got to hand it to em. He put his hands on things and made sure I got my stuff.

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[Colo_Ranger]

That was me you spoke with (the employee of 16yrs)
there is no more move/merge or purchase of SW.
after i spoke to you in person tuesday the 10th of this week the owner came storming into the shop huddled us all together and laid us all off.

Man, that sucks and I am truly sorry to hear that. It sounds like there is more to the story, and we are starting to hear things. Specifically, it sounds like there was a merger planned. Speculation would be, the owner was banking on merging so he could continue and that fell through. When it fell through, he threw in the towel and took his losses. I wish that didn't mean all the employees, customers, etc got seriously boned in the process.

 

[XDKTC]

yea, there's a few items not in the pic but I don't think the skid plate was in there. I'll double check tomorrow. If it matters I have RCI full skids (on 4runner) so not sure if they're compatible with SW bumper.
I actually reached out to Thomas Tuesday after seeing things unfold but he assured me I was good. Definitely got to hand it to em. He put his hands on things and made sure I got my stuff.

I should contact thomas about a job at OA lol but they'd not have much use there for a fabricator.
the skid is not all too important it connects from bumper to ur lower radiator support. just a ltitle gap bridge i believe your RCI skids go from radiator support back .

 

[S13Koop]

ah, ok
Who knows, OA offering armor would be a great addition. You got the skills.
I've never met you but you seem like a solid dude.
I hope you land on your feet man after all this. Sincerely.

 

[XDKTC]

Man, that sucks and I am truly sorry to hear that. It sounds like there is more to the story, and we are starting to hear things. Specifically, it sounds like there was a merger planned. Speculation would be, the owner was banking on merging so he could continue and that fell through. When it fell through, he threw in the towel and took his losses. I wish that didn't mean all the employees, customers, etc got seriously boned in the process.

Bingo

 

[tremorman]

Just read through this thread, seems like there's a word to describe this owner that hasn't been mentioned once yet... criminal. I feel for anyone who got screwed over, just pure scum on that guy's part, whatever the reason(s).

 

[Colo_Ranger]

Just read through this thread, seems like there's a word to describe this owner that hasn't been mentioned once yet... criminal. I feel for anyone who got screwed over, just pure scum on that guy's part, whatever the reason(s).

I doubt what he did was criminal. I don't know the guy, but its easy for use to judge. I work with small business owners and, if you aren't good at running a business, its easy to run out of capital really quickly. From a business owner standpoint, it sounds like he was trying to find a way to make it work. But he failed. If you run out of money, there isn't a lot you can do. Maybe he tried to grow too fast, maybe he tried to keep up with demand without being able to hire enough people to run the business. A side note to that; your pay is about 1/2 of what the business is responsible for. Taxes are outrageous on payroll. If you pay an EE (employee) $50,000, it cost about that much for the ER (employer) in taxes. So a $50,000 EE cost the ER $100,000 (that's not exact, but I deal with payroll in my job and its astronomical how much an EE cost. Unless he took the money, personally, and shut down the company, its not really criminal. Its a failed business.

That all being said, I feel terrible for those who lost money. Customers, EEs, distributors, creditors, etc. It sucks, plain and simple.

I am not sticking up for the owner, per se, but I see the inner workings of financials all day and its easy to get out of control, if you don't know what you're doing.

 

[tremorman]

I doubt what he did was criminal. I don't know the guy, but its easy for use to judge. I work with small business owners and, if you aren't good at running a business, its easy to run out of capital really quickly. From a business owner standpoint, it sounds like he was trying to find a way to make it work. But he failed. If you run out of money, there isn't a lot you can do. Maybe he tried to grow too fast, maybe he tried to keep up with demand without being able to hire enough people to run the business. A side note to that; your pay is about 1/2 of what the business is responsible for. Taxes are outrageous on payroll. If you pay an EE (employee) $50,000, it cost about that much for the ER (employer) in taxes. So a $50,000 EE cost the ER $100,000 (that's not exact, but I deal with payroll in my job and its astronomical how much an EE cost. Unless he took the money, personally, and shut down the company, its not really criminal. Its a failed business.

That all being said, I feel terrible for those who lost money. Customers, EEs, distributors, creditors, etc. It sucks, plain and simple.

I am not sticking up for the owner, per se, but I see the inner workings of financials all day and its easy to get out of control, if you don't know what you're doing.

The accounts I've seen suggest he took the money and ran with no communication essentially. Didn't pay employees for their last week. I have plenty of business experience, dropping off the face of the earth like this guy did is not how you handle a failed business.

 

[AzScorpion]

The accounts I've seen suggest he took the money and ran with no communication essentially. Didn't pay employees for their last week. I have plenty of business experience, dropping off the face of the earth like this guy did is not how you handle a failed business.

I agree he didn't have any business sense at all. Yes sometimes unexpected things happen but it sounds like he had no clue on how to utilize his cash once he got paid. I've seen it happen way to many times where businesses take to much for themself and "think" they can make it up on the back end. Once you overpay yourself there's no money for anything else. He should've at least gave everyone their last check but I'm sure by this point he didn't have any money left. It's not worth trying to get paid as (sadly) it'll never happen.

I've been through this too right before the recession in '08. We were working for a developer who was based out of Boston but had a GC doing 3 huge projects in WMA. They always paid great (every 2 weeks) and all of a sudden the checks were getting delayed. I talked to the other contractors who I knew and they were having the same problem. Long story short they screwed everyone some out of several hundred thousand and walked away. I took a $10K hit and after talking with a lawyer he said you're wasting your time trying to get it as the banks will get any money first then the larger creditors like lumber yards and supply houses.

 

[XDKTC]

I doubt what he did was criminal. I don't know the guy, but its easy for use to judge. I work with small business owners and, if you aren't good at running a business, its easy to run out of capital really quickly. From a business owner standpoint, it sounds like he was trying to find a way to make it work. But he failed. If you run out of money, there isn't a lot you can do. Maybe he tried to grow too fast, maybe he tried to keep up with demand without being able to hire enough people to run the business. A side note to that; your pay is about 1/2 of what the business is responsible for. Taxes are outrageous on payroll. If you pay an EE (employee) $50,000, it cost about that much for the ER (employer) in taxes. So a $50,000 EE cost the ER $100,000 (that's not exact, but I deal with payroll in my job and its astronomical how much an EE cost. Unless he took the money, personally, and shut down the company, its not really criminal. Its a failed business.

That all being said, I feel terrible for those who lost money. Customers, EEs, distributors, creditors, etc. It sucks, plain and simple.

I am not sticking up for the owner, per se, but I see the inner workings of financials all day and its easy to get out of control, if you don't know what you're doing.

this is mentioned elsewhere online but the guy quoting his findings assumed the info was from 2012 . the 2012 is the certificate formation of the LLC.
the actual LLC was tax forefited ? spelling in 2018.

there are no other filings online with texas state secretary office so from 2018 to 2023 hes personally responsible not protected under an LLC umbrella.

 

[XDKTC]

At this point , I'm just waiting to find records indicating bankruptcy / asset liquidation sale.
I know I'm not ever going to recover any wages once a ch 13 goes into place but perhaps I can get my trusty welding machine on the cheap

 

[VAMike]

To bad they're not on a 2019. Then it would be in the Smithsonian. ?

Mine are on a completely-contented 2019 supercab

 

[lazynorse]

$100 says the owner had a sparkly new bass boat and a jacked up F350 while failing.

Taking thousands of $ and not delivering is known by another word.. stealing.

 

[OFC Ranger]

I took a $10K hit and after talking with a lawyer he said you're wasting your time trying to get it as the banks will get any money first then the larger creditors like lumber yards and supply houses.

This never made any sense to me.

All debts should be compiled and then they start with with the smallest debt. If its $20, then $20 is set aside for all debtors. Once the $20 debtor is settled he is scratched off the list. The next is $60 owed to a single debtor, then $40 (so everyone has $60 now) is then given too all debtors. So forth and so forth in a domino effect until the funds dry up. That way everyone is attempted to be made whole evenly.

There is absolutely no reason corporations should take priority over individuals, zero. Again, like another thread from yesterday, the civil system is just as borked as the criminal one.

 

[AzScorpion]

This never made any sense to me.

All debts should be compiled and then they start with with the smallest debt. If its $20, then $20 is set aside for all debtors. Once the $20 debtor is settled he is scratched off the list. The next is $60 owed to a single debtor, then $40 (so everyone has $60 now) is then given too all debtors. So forth and so forth in a domino effect until the funds dry up. That way everyone is attempted to be made whole evenly.

There is absolutely no reason corporations should take priority over individuals, zero. Again, like another thread from yesterday, the civil system is just as borked as the criminal one.

Trust me I wish it were that way. But it's all apart of doing business with the big corps and being a little fish in a big ocean. I don't think anyone wasted their time going after them as it was a big corporation out of Boston with very good lawyers and very deep pockets.

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