Attention Pfadt Customers [update] - CorvetteForum - Chevrolet Corvette Forum Discussion

Notices
C7 General Discussion General C7 Corvette Discussion not covered in Tech
Sponsored by:
Sponsored by:

Attention Pfadt Customers [update]

Old 02-25-2014, 02:04 PM
  #1  
savewave
Administrator
Thread Starter
 
savewave's Avatar
 
Member Since: Aug 1999
Location: Lakeland TN
Posts: 54,612
Thanked 262 Times in 106 Posts
CI 2-3-4-5-6-7-8-9-10-11-12
Wounded Warrior Escort '11
St. Jude Donor '03 thru '18
NCM Lifetime Member
NCM Sinkhole Donor

Default Attention Pfadt Customers [update]

We are aware that some Pfadt customers are reporting they have not received orders they placed in December and have not been able to reach Pfadt for a response. We have reached out to Pfadt to try and get details on the situation and will let you know what we are able to find out.

Meanwhile, in order to get some scope on the situation, please contact me via PM and let me know if you have an unfilled order at Pfadt or have not been able to contact them. Iíll use that information to set up a group email list for use by those who may be directly affected.
savewave is offline  
Old 02-25-2014, 03:39 PM
  #2  
savewave
Administrator
Thread Starter
 
savewave's Avatar
 
Member Since: Aug 1999
Location: Lakeland TN
Posts: 54,612
Thanked 262 Times in 106 Posts
CI 2-3-4-5-6-7-8-9-10-11-12
Wounded Warrior Escort '11
St. Jude Donor '03 thru '18
NCM Lifetime Member
NCM Sinkhole Donor

Default

This update on Pfadt's Facebook post from 17 minutes ago:

https://www.facebook.com/PfadtRacing

Itís with heavy hearts that we announce the closing of Pfadt Race Engineering. Since 2006 we have manufactured the highest quality aftermarket components for Corvette, Camaro, and Cadillac right here in Salt Lake City, Utah. Since the addition of Pfadt power products to our extensive suspension line, sales have increased exponentially, which put us into a perpetual backorder. We have spent the past 4 months meeting with investors and venture capitalists trying to secure financing to push Pfadt to the next level and unfortunately the deals to be made were not in our companyís or employeeís best interest. Without a large investment we do not have the resources to meet the demand, which leaves us with no other option but closing our doors.

We would like to thank all of our employees who put their hearts and minds into this business to make it what it is today. We would like to thank our dealers who expertly installed our parts and helped us build our product line with their professional insight. Finally we would like to thank you, our customers. You helped us build a grassroots performance company in the United States. You pushed us to make bolder and better products year after year. You created the Pfadt Family - and thatís what we will miss the most.

We hope this is a minor speed bump on the long road ahead. Much like GM has experienced in the past, we are also experiencing a setback, but we will reorganize and resurface, faster and more streamlined than ever. We have taken care of all of our customers in this deal - you will receive a tracking number for your product or a full refund - and we are sorry for the delays, time lost and backorders many of you experienced. You were all so patient and understanding as we grew, and once again itís a tribute to how solid the GM community is. We did everything in our power to take care of you and we appreciate the years you allowed us to be a part of your journey. Itís been an amazing ride.

Sincerely,

Aaron Pfadt
savewave is offline  
Old 02-25-2014, 03:49 PM
  #3  
Speednet
CF Senior Member
 
Speednet's Avatar
 
Member Since: Apr 2001
Location: Bridgewater NJ
Posts: 1,639
Thanked 254 Times in 139 Posts
Default

They are closing up shop because of too much business? Um....
Speednet is offline  
Old 02-25-2014, 03:54 PM
  #4  
Sam Handwich
CF Senior Member
 
Member Since: Nov 2011
Posts: 945
Thanked 87 Times in 74 Posts
Default sorry to see this

Originally Posted by savewave View Post
This update on Pfadt's Facebook post from 17 minutes ago:
As long as there are vette owners who want high quality and great service there will be room for vendors like Pfadt. Truly hope that they re-emerge (soon) in this market.

Sam Handwich is offline  
Old 02-25-2014, 03:56 PM
  #5  
Sam Handwich
CF Senior Member
 
Member Since: Nov 2011
Posts: 945
Thanked 87 Times in 74 Posts
Default business struggles...

Originally Posted by Speednet View Post
They are closing up shop because of too much business? Um....
I think it is called "undercapitalized". And they didn't like the terms of the deals that they were able to find.
Sam Handwich is offline  
Old 02-25-2014, 03:57 PM
  #6  
NEWudERA
CF Senior Member
 
NEWudERA's Avatar
 
Member Since: Nov 2002
Location: Poor pathetic little excuse for a boy
Posts: 36,292
Thanked 49 Times in 19 Posts
Default

Originally Posted by Speednet View Post
They are closing up shop because of too much business? Um....
Seems like there may be more to this story but of course sad to hear.
NEWudERA is offline  
Old 02-25-2014, 04:10 PM
  #7  
vetterdstr
CF Senior Member
 
vetterdstr's Avatar
 
Member Since: Mar 1999
Location: San Jose/Bear Valley CA
Posts: 28,729
Thanked 8 Times in 7 Posts
CA Events Coordinator
Default

Good to hear they are taking care of the customers...
vetterdstr is offline  
Old 02-25-2014, 04:12 PM
  #8  
Scooter70
CF Senior Member
 
Scooter70's Avatar
 
Member Since: Oct 2001
Location: The Motor City
Posts: 5,007
Thanked 77 Times in 59 Posts
Default

Originally Posted by Speednet View Post
They are closing up shop because of too much business? Um....
As a friend of mine just said to me "Just because you're busy doesn't mean that you're making money."

I, too, hope that they are able to recover and come back just as strong as before.

-Matt
Scooter70 is offline  
Old 02-25-2014, 04:21 PM
  #9  
Blackdevil77
CF Senior Member
 
Blackdevil77's Avatar
 
Member Since: Dec 2009
Location: Malverne New York
Posts: 1,392
Thanks: 0
Thanked 4 Times in 3 Posts
Default

This certainly answer a lot of questions. Sorry to hear about this, best of luck to you guys at Pfadt.
Blackdevil77 is offline  
Old 02-25-2014, 05:13 PM
  #10  
ronvenna
CF Senior Member
 
Member Since: Nov 2013
Posts: 194
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Well there goes my C7 tune I was about to order
ronvenna is offline  
Old 02-25-2014, 05:22 PM
  #11  
Pfadt Racing
CF Senior Member
 
Member Since: Dec 2009
Posts: 3,724
Thanks: 0
Thanked 3 Times in 3 Posts
Default

Originally Posted by Scooter70 View Post
As a friend of mine just said to me "Just because you're busy doesn't mean that you're making money."

I, too, hope that they are able to recover and come back just as strong as before.

-Matt
Well said. We never knew that this would be a problem either but I guess that's obvious now. Thanks for the continued support over the years. It's been a lot of fun.
Pfadt Racing is offline  
Old 02-25-2014, 06:26 PM
  #12  
Olitho
CF Senior Member
 
Olitho's Avatar
 
Member Since: Oct 2004
Location: California
Posts: 4,814
Thanked 106 Times in 76 Posts
Default

Originally Posted by Speednet View Post
They are closing up shop because of too much business? Um....

Yes, this is a legit reason. I don't know exactly what there situation is, but what they are referencing is also known as "Sales Bankruptcy." Someone else used the term undercapitalized. In essence they don't have enough liquid assets to support the volume of business transacted and the place crumbles. Think of it as running too fast and going anaerobic and collapsing, driving the tires off of your car, etc.
Olitho is offline  
Old 02-25-2014, 06:28 PM
  #13  
travisnd
CF Senior Member
 
Member Since: May 2008
Location: Chesapeake VA
Posts: 4,629
Thanks: 0
Thanked 8 Times in 3 Posts
Default

Yep... growing too fast without adequate financing in place is a #1 killer of business. Happens quite often. Cashflow runs out and everything falls apart.
travisnd is offline  
Old 02-25-2014, 06:29 PM
  #14  
Dameian
CF Senior Member
 
Member Since: Apr 2008
Posts: 193
Thanks: 0
Thanked 2 Times in 2 Posts
Default

Originally Posted by Pfadt Racing View Post
Well said. We never knew that this would be a problem either but I guess that's obvious now. Thanks for the continued support over the years. It's been a lot of fun.
Are you guys taking care of the people that want refunds on their headers that don't fit?
Dameian is offline  
Old 02-25-2014, 06:29 PM
  #15  
Olitho
CF Senior Member
 
Olitho's Avatar
 
Member Since: Oct 2004
Location: California
Posts: 4,814
Thanked 106 Times in 76 Posts
Default

Originally Posted by Pfadt Racing View Post
Well said. We never knew that this would be a problem either but I guess that's obvious now. Thanks for the continued support over the years. It's been a lot of fun.

You are good people and I wish you renewed success. A shuttering of a business like this is not the end, but the shot at a new beginning.

You put the car into the wall hard going for the glory. The remnants are towed into the pits, but there is always the opportunity to rebuidl on the lessons learned and to create a new, better performing entity.

The opporunity to do that is what makes the USA great. This cannot be done in other countries and it stifles the entreprenuerialism and improvement processs.
Olitho is offline  
Old 02-25-2014, 06:39 PM
  #16  
timd38
CF Senior Member
 
timd38's Avatar
 
Member Since: Aug 2005
Location: Hudson WI
Posts: 13,478
Thanked 138 Times in 127 Posts
NCM Sinkhole Donor
Default

Don't laugh, but most business like this fail when business gets to good. Cash flow becomes the issue and unless you have access to cash to be able to grow, it forces you the other way.
timd38 is offline  
Old 02-25-2014, 07:17 PM
  #17  
Dirty Howie
CF Senior Member
 
Dirty Howie's Avatar
 
Member Since: May 2004
Location: SoCal
Posts: 25,855
Thanked 168 Times in 132 Posts
Default

Too bad

And we want to thank you for your support and sponsorship of the Corvette Challenge over the last several years


DH
Dirty Howie is offline  
Old 02-25-2014, 07:32 PM
  #18  
Ross D Vettetech
Junior Member
 
Member Since: Jan 2008
Location: Hammond Louisiana
Posts: 3
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Just want to say that i have been a Dealer for Pfadt for a while now, Sorry to see them go. They are very good people. They care so much about delivering the very best products to us all. Good luck Arron, Robbin, Eric, Josh, and everyone else!!

Darren Blanchard
Ross D Vettetech is offline  
Old 02-25-2014, 07:32 PM
  #19  
JDIllon
CF Senior Member
 
JDIllon's Avatar
 
Member Since: Sep 2005
Location: Port St. Lucie Fl.
Posts: 2,537
Thanks: 0
Thanked 17 Times in 10 Posts
Default

Very sorry to see this happen. I always had a good relationship with Aaron and Robin and their products were all well designed. Hope they recover from this and come out stronger in the future. Jim Dillon
JDIllon is offline  
Old 02-25-2014, 08:02 PM
  #20  
OJCrush08
CF Senior Member
 
OJCrush08's Avatar
 
Member Since: Mar 2010
Location: Manassas VA
Posts: 839
Thanks: 0
Thanked 0 Times in 0 Posts
Default

Shocked and saddened to hear this - superb products. Could not get the grins off my face after ECS installed their Johnny O Connell stuff on my Z06. Perfect and needed upgrade to match the 622 h/p and Michelin Pilot SS tires - hitting the ramps demonstrated a true seat of the pants improvement in control and placement.

I hope they are able to find some venture capitalist who is also a performance car enthusiast...
OJCrush08 is offline  

Thread Tools
Search this Thread
Quick Reply: Attention Pfadt Customers [update]


Sponsored Ads
Vendor Directory

Contact Us Archive Advertising Cookie Policy Privacy Statement Terms of Service

© 2018 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
 
  • Ask a Question
    Get answers from community experts
Question Title:
Description:
Your question will be posted in: