ALF FILES for BANKRUPTCY

[Hehateme]

Remember - ALF paid their creditors 22.5 cents on the dollar for their debt.

Now, every other fire apparatus manufacturer will pick up that debt in the form of higher prices for components (pumps, engines, transmissions, etc.).

So as far as I am concerned, they just raised the cost of everyone elses fire apparatus to cover their poor management and business practice.

Way to go ALF!

[pumpertech]

"Patriarch Partners also is awaiting court approval to purchase North Charleston-based Protected Vehicles Inc., which filed for Chapter 11 bankruptcy. Parties in those negotiations expected the court to approve the $5 million deal this week, but the judge continues to review the motion."

It may be interesting if not ironic to know that this guy just sailed through bankruptcy as well.... Perhaps it's a movement... Pardon the pun.

[islandfire03]

Quoted from the Brunswick Times Record Friday Oct 24th, 2008

"Lynn Tilton announced thursday that her investment group was the lucky bidder at a federal bankruptcy auction of the closed down former GP paper & pulp mill in Old town Maine. selling price almost 19 million. Patriarch provided no time table, but said it hopes to get the mill up & running as soon as possiblle. " this is what we do. We buy and help rebuild,turnaround middle market companies, for the most part based in the US."

And the really interesting part of the equation is

"A 30 million grant from the US dept. of energy to start ethanol production will transfer to the new owner when the sale is finalized."

No wonder she was willing to pay almost 19 million in order to get 30 million of federal grant $$$ to start up an ethanol production facility. pretty good return on investment.

I hope the folks up in Old Town fare better than the folks at ALF did.

[Rescue101]

And keep in mind this Plant was working on the BEGINNING stages of changeover from pulp to ethanol.Old Town needs the mill open but when I heard the name Patriarch attached to the deal,I just groaned.Just some more of the same old stuff. T.C.

[Hehateme]

Is there any official word as to what the ALF group is doing?

Are they moving?

Are they accepting orders?

Are they answering the phone?

Anybody?

[SFD_E73_RET]

Like past reports said the chassis are being made in Charelston and the bodies and aerials are being built in Hamburg and Ephfata, streamling operations. Yes they are accepting orders and yes they are answering the phones. Our dealership delivered two new trucks earlier this month they were complete and well built. ALF is working with the customers that stayed with them and focusing on the future. I don't think they have received very many orders but that is understandable. I can assure you they are working hard to gain the trust of the fire service community back, they know it won't happen over night.