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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. I’ll use that information to set up a group email list for use by those who may be directly affected. |
This update on Pfadt's Facebook post from 17 minutes ago:
https://www.facebook.com/PfadtRacing It’s 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 company’s or employee’s 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 that’s 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 it’s 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. It’s been an amazing ride. Sincerely, Aaron Pfadt |
They are closing up shop because of too much business? Um....
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sorry to see this
Originally Posted by savewave
(Post 1586260112)
This update on Pfadt's Facebook post from 17 minutes ago:
:flaghalfmast: |
business struggles...
Originally Posted by Speednet
(Post 1586260206)
They are closing up shop because of too much business? Um....
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Originally Posted by Speednet
(Post 1586260206)
They are closing up shop because of too much business? Um....
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Good to hear they are taking care of the customers... :thumbs:
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Originally Posted by Speednet
(Post 1586260206)
They are closing up shop because of too much business? Um....
I, too, hope that they are able to recover and come back just as strong as before. -Matt |
This certainly answer a lot of questions. Sorry to hear about this, best of luck to you guys at Pfadt.
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Well there goes my C7 tune I was about to order :(
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Originally Posted by Scooter70
(Post 1586260409)
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 |
Originally Posted by Speednet
(Post 1586260206)
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. |
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.
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Originally Posted by Pfadt Racing
(Post 1586260998)
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.
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Originally Posted by Pfadt Racing
(Post 1586260998)
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. |
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.
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Too bad :(
And we want to thank you for your support and sponsorship of the Corvette Challenge over the last several years :thumbs: :cheers: DH |
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 |
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
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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... |
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