Quote:
Originally Posted by Mike V. Florida
Now, if someone contacts the attorneys and wish's to purchase all the assets for at least all the monies owned that might work as it would make all the debt whole and speed things up. What are those chances?
|
Mike, speaking as someone who owns an upholstery shop, L/B's assets (-without real estate) would likely be less than an average blue-collared worker's annual salary. Of all the crafts in the automotive industry, an upholstery shop is likely the least expensive to set-up. Good quality walking foot sewing machines such as a Consew or a Juki can be purchased used for under $1,500. A button press is under $500, and all of the hand tools such as shears, rulers, a steamer, iron, small compressor, glue gun, and staplers can be purchased for under $1k too. Most established upholstery shops would only purchase L/B items as spares, and as such would not give very much for them. This is assuming they are in good working order, and not fallen into disrepair over the past few unprofitable years.
David has already commented that the company did not have the funds to purchase raw goods, so you are likely not going to find much value in the remaining goods inventory unless it is one-off piece goods materials used in rare applications.
So the only other asset would be the patterns. Most knowledgeable hobbyists knew that L/B's kits were not 100% accurate, however they were reasonably close. Therefore all you are purchasing for patterns is something close, ...which makes the patterns less valuable if you are wanting to offer something better than the competition. Now, old take-out upholstery kits can pretty much be had for the asking. Using one of those old interiors (-an original or old reproduction) can allow a person to spend a few hours using a razor blade to cut apart the covers at the seams, ...and when they are apart you will have a sample to make new patterns with. Since L/B's patterns apparently were not all that accurate, what are you gaining by purchasing theirs when you can make your own with a little effort or expense? Also remember that patterns are much like having your buddy's notes from his college history class. Those notes don't always tell you everything you need to know, especially if you were not there to hear the lecture.
My thoughts at this moment is to be thankful there are others who can fill the void for the hobby, and support those companies.
.
.