Hot Tub Forum
Original => Hot Tub Forum => Topic started by: Tom on April 01, 2009, 10:42:29 am
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Monday, March 30, 2009, 12:40pm EDT
DM Industries files for Chapter 11
South Florida Business Journal - by Paul Brinkmann
DM Industries Ltd., a 30-year-old manufacturer of hot tubs and related products, has filed for Chapter 11 bankruptcy.
The company, based at 2320 N.W. 147th St., in Opa-locka, owns several smaller divisions, including Vita Bath and Vita Spa.
http://www.bizjournals.com/southflorida/stories/2009/03/30/daily6.html
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Wow... i hope all the Vita Spa employees can find work and hope no one else is next.
Times are tough.
In my industry our major clients are calling us, asking for a meeting,
and then basically telling us "we are laying people off and asking all
of our vendors for a 10% cost reduction and if you can't immediately
do that we have to open up the bidding process". Tough news
when your business is already down 20% and then get asked for a
10% price reduction.
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Wow... i hope all the Vita Spa employees can find work and hope no one else is next.
Times are tough.
In my industry our major clients are calling us, asking for a meeting,
and then basically telling us "we are laying people off and asking all
of our vendors for a 10% cost reduction and if you can't immediately
do that we have to open up the bidding process". Tough news
when your business is already down 20% and then get asked for a
10% price reduction.
They're filing CH. 11, so hopefully they can right the ship and get going again.
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I hope so, but I have my doubts about companies in
trouble righting the ship in the middle of this storm.
Personally I don't think we've seen the worst yet.
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Funny...I said this was happening over a month ago and everyone thought I was loopy...
I said TM was about to take a dive and no one belived that either.
Just hope the season kicks into high gear soon!
I think DM can pull it out, they used to have some pretty deep pockets.
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Wow... i hope all the Vita Spa employees can find work and hope no one else is next.
Times are tough.
In my industry our major clients are calling us, asking for a meeting,
and then basically telling us "we are laying people off and asking all
of our vendors for a 10% cost reduction and if you can't immediately
do that we have to open up the bidding process". Tough news
when your business is already down 20% and then get asked for a
10% price reduction.
My company is raising prices 10-30% and talking about growth for the year. But that is all they are doing it talking, now suddenly they noticed orders are down 40% from last year. They are pulling their heads out of their rectums a little late. Oh, well next step, move the company to Mexico.
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Funny...I said this was happening over a month ago and everyone thought I was loopy...
I said TM was about to take a dive and no one belived that either.
Just hope the season kicks into high gear soon!
I think DM can pull it out, they used to have some pretty deep pockets.
I think most dealers on here realize the situation and know that their are going to be some casualties in the industry. If you dont, your blind. The consumer needs to be VERY smart about which dealer and manufacturer they are buying from, if they want service down the road.
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Hello all,
With times being what they are right now it seems to me that spa manufacture that have over extended themselves won't be here much longer. The only people that get hurt are the people that trusted them and was thinking they were getting a good deal for cheep. Costco and home depot don't help much you have to agree that is the sign of death being there.
How sound is the company your buying from right now and will they be here a year from now?
Their are spa company flying under the radar that are doing very well and owe nobody but they do not floor product but will be here 5 years from now because they owe no one. My guess is check them out and see how they can help you as a dealer.
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Hello all,
With times being what they are right now it seems to me that spa manufacture that have over extended themselves won't be here much longer. The only people that get hurt are the people that trusted them and was thinking they were getting a good deal for cheep. Costco and home depot don't help much you have to agree that is the sign of death being there.
How sound is the company your buying from right now and will they be here a year from now?
Their are spa company flying under the radar that are doing very well and owe nobody but they do not floor product but will be here 5 years from now because they owe no one. My guess is check them out and see how they can help you as a dealer.
So, which company are you promoting talking about? If they are under the radar, how do the dealers know about them?
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I'm surprised more companies haven't gone belly up.
I guess depending on where you're at things can be really bad. A few years ago we had a dealer from Detroit and it was bad then ... I can't imagine what it's like there now.
As I listen to CNBC and they state the jobless numbers it's a stagerring number. The problem that I see is we are talking about 5 million people out of work in the US alone and 563,000 (or whatever number) is a higher percentage than it was last week since there are less people working. Even having less people filing for unemployment is not a good sign ... companies can keep on cutting and the sad fact is they have less people on staff so they have less people to cut.
But better times will eventually come back.
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There is a company I have a friend that work's for them and they are very stable I have only here good things about them. It's called Columbia Spas I have looked at their website and I think I have see them or an ad somewhere. I will probably check them out this week.
If you want I can keep you posted on what I find out.
C-ya
B.
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So, which company are you promoting talking about?
We my have an admission ;D
I don't know about how the rest of the world operates, but other than my bookkeeper, I don't have another employee that knows the "financial situation" of my company.
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Columbia spas eh? I cant see how they dont floor models with their innovative cookie cutter molds. If they are around in 5 years I think it would be only because the owner has money to burn.
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Columbia spas eh? I cant see how they dont floor models with their innovative cookie cutter molds. If they are around in 5 years I think it would be only because the owner has money to burn.
They do have money to burn because it is not being put into the spas. I Looked at their website and it was just about unless, maybe they have something to hide.