American Blinds stops functioning and winds down company. Is not spending its suppliers. Can it be scam when they required customer orders - getting credit cards - comprehending that these were not likely to ship purchases? Being among their providers we were stiffed for over $7,000 - We're among their providers - they extended to deliver us purchases to vessel despite the fact that they understood these were on credit store and we weren't likely to deliver any fresh purchases till we got settled. This continued for over 5 months. It's my comprehending that they're/were possessed by Contrarian Money http://www.contrariancapital.com / - an extremely effective investment team that's value over $3 million - yes - that's BILLION POUNDS - the guaranteed bank was likewise exactly the same Contrarian Money. Below is definitely an email in the Leader of American Shades to people like me - their suppliers - BUYER BEWARE.
From: Joel Levine
To: Joel Levine
Cc: Bill Tufts; Nick Darin
Delivered: Thursday, April 089:51 AM
Topic: Wind-Down Of American Blinds and Picture Manufacturer, Inc
May 8
Re: Wind-Down of American Blind & Wallpaper Manufacturer, Inc.
This notice would be to let you know that successful April 7 National Blind & Wallpaper Factory (“ABWF”) stopped conducting business. Since you may bear in mind, ABWF continues to be experiencing economic issues for a while as a result of decrease in customer purchases equivalent to the present fiscal conditions. ABWF’s guaranteed bank, with a safety fascination with all ABWF’s belongings, decided that it'd no further increase credit, producing ongoing operations difficult. ABWF’s debt towards the guaranteed bank somewhat meets the worthiness of ABWF’s belongings. Under these conditions, ABWF and also the guaranteed lender determined the greatest strategy was for ABWF to show over its belongings towards the guaranteed bank. ABWF realizes that the guaranteed bank has discarded the belongings on April 7, in a purchase to some proper customer for under the guaranteed bank was owed.
Since ABWF’s guaranteed debt is really much more than the worthiness of its belongings, ABWF doesn't assume that you will see any resources open to deliver to unsecured lenders, as well as your organization. Moreover, ABWF may quickly wind-down its procedures. Since, ABWF doesn't have belongings, any variety initiatives is a waste of sources.
ABWF regrets to see you of those occasions. Underneath the conditions, ABWF doesn't have practical option but to stop operations.
Should you need extra information or wish to examine the problem please feel liberated to contact me by telephone or mail at 734-207-5888 (direct), 201-725-7340 (cell), [email protected], or [email protected].
Personally, I appreciate our company associates for that relationships and operating relationships we've created through the years.
In my opinion the proper customer is likely to be calling one to examine continuing business associations and potential possibilities such as the satisfying and cost for available purchases not yet delivered.
Truly,
Joel Levine
Boss
0 comments