Now, if only Kilgus and his wife would hop on the rusted out freighter they brought the catalysts over in, we'd have a happy ending.
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Salient News and Notes
- Thread starter steinkecm
- Start date
Reniger
* Ace Member *
Failient complete.
You can almost hear the cheering on Facebook.
zj1002
* Ace Member *
I've avoided Salient talk on DGCR for the most part. But as someone who used to manage distribution fulfillment for them at Disc Nation and worked first hand with the all the parties involved in Salient...I can finally say...Thank god these people are gone from disc golf. I hope they don't try again under a new name.
steinkecm
Eagle Member
- Joined
- Jul 18, 2012
- Messages
- 821
Seems like it--they'd rather try and start a tour than clean up their actual business and treat people like they should be.
the_lung
Eagle Member
How many folks wanna bet that the principals involved will blame everyone else instead of themselves? These guys live in such a state of denial that I'm sure they'll never rationalize that it was their **** products and their horrendous customer service and worst people skills in the history of the sport that did them in.
Denial isn't just a river in Africa.
Denial isn't just a river in Africa.
They'llbe too busy trying to break even with the sale of their "assets" but after that is complete I am sure they will blame me and b3ender and DGCR and Facebook and Ricky Wysocki and Innova and the Better Business Bureau and the PDGA and....
It really looks like the ADGT was a last ditch attempt to get things to turn around. They were hoping it would pay off and save the company, if it didn't, hey, they were already going to declare bankruptcy.
It is important to remember that bankruptcy doesn't mean the end of Salient, they could come out of this in some other form and put out their products.
It is important to remember that bankruptcy doesn't mean the end of Salient, they could come out of this in some other form and put out their products.
steinkecm
Eagle Member
- Joined
- Jul 18, 2012
- Messages
- 821
wth...totally uncalled for.
Hampstead
* Ace Member *
A lawyer can correct me if I'm wrong, but the link in the OP shows they've filled for Chapter 7, which is liquidation of the business in pursuit of settling debts. It is the end of Salient and there shouldn't be anything left for them start over with once their debts are settled. If they had enough assets to settle debts and somehow stay in business, I think they'd have filled Chapter 11 instead.
Unless you're suggesting that even after this whole mess is settled, they'd start again from scratch. That would be a whole other level of stubborn...and stupid.
Boucher is also a creditor. You have to sign up for a free account to see that.
That's not unusual. In an incorporated business, it's likely that the owners hold stock, or put some of their own money into the corporation, and so the corporation owes them back. The corporation is separate from the individuals.
jeffmonty
* Ace Member *
- Joined
- Feb 20, 2010
- Messages
- 2,413
They have demonstrated high levels of efficiency at both.
onemilemore
* Ace Member *
Yep, most likely just making sure collectors don't come after their personal assets. Just the company's.
McFer
* Innova: Choice of Champions *
- Joined
- Apr 5, 2012
- Messages
- 681
Some dude on FB ponied up the $40 to get the details...and there wasn't really much for them to sell off except for a 2002 Oldsmobile Silhouette and a stamping machine and some other small equipment being kept at Bob's Storage.
