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Wow, looks like they still owe over $300k on that pipe bender too... like phunk said, love or hate the guy, its sad. Just hope everything comes out positively for everyone that has money tied up with them.
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Can some body tell me . is he still open for business, are his door closed, are there any letters posted on the inside of his doors saying that landlord has locked his doors?
i just looked at this post this morning. tell me its not true. |
Talked to him as well as Pablo yesterday. Still open
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Its a damn shame because they have some of the best mods for our cars. Just sux all the way around. My biggest question is how in the hell could they go under with all those people ordering so many high end packages from them?? I mean they had like over 100 people order their TT set up not to mention people like z eliminator who dropped 30k in one build. How in the hell could they be going under with all this work they have?? It doesn't make sense to me
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And what happens to the thousands of people who have their products when they need something replaced?? Are they going to be able to get their stuff fixed or replaced?? I guess they will have to wait for somebody to sell the used part they need??? Somebody please say it ain't so
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Luckily there aren't a whole lot of parts that were made by GTM on their turbo kits. They mainly supplied plumbing. The manifolds are the issue since they're prone to cracking. Most of the other parts can be bought from their manufacturer. |
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I don't think anyone really understands how bankruptcy works... (Not talking specifically to you Z eliminator). Anyways, filing for bankruptcy is a way for you to "restructure your debt". Honestly what it is, is protection from your stuff getting repo'd, AND you don't have to make payments on it (you should, but no one is gonna stop you). The disadvantage is that your credit goes to non existent. You need a loan to buy more turbos? No. Need to use your credit card? Ehhhhhhh... Good luck. Now, speaking as a camel jockey (Sam is one too)... He'll probably let this business tank so he doesn't have to repay any of his debts, and start a new one IMMEDIATELY under some other families name and the GTM storefront we see will never close... |
at that point what happens to the goods . eg my engine, cams, and all the other parts ?
do they get sold off ? or does he complete the work ? Z |
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You of all people need to be contacting an attorney. |
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