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| Just saw that Heckels is in Bankruptcy proceedings what a mess thats going to be.
They had a big inventory of rangers might beable to find a good deal on a boat but what is it going to do top the other dealers?? |
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Location: Rhinelander | Nothing negative. As we understand it, they are in reorganization, and many of the floor planned boats have already been picked up by the manufacturer or floor plan company. |
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| I have been watching this closely because I did some work for them and haven't been paid, I live in Eagle River and things are bad enough here, But on the 5th according to the site I saw the judge signed an order freeing M&I Bank and GE credit to proceed with foreclosure so it looks like I'm out over 4K . I saw the court papers posted on a site called heckelsbankruptcy.com ,What this means is despite what I've been reading they arent protected from the Bank and GE and it's not a simple reorganization. I'm not expressing a personal opinion just setting the record straight and providing truthful information for those concerned |
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Member
Posts: 538
| Tom,
I understnd that these are public records. I am curious as to whom has spent the time to make this available and why? Is this put out by the bankruptcy attorney to keep all concerned informed?
Thanks,
Jim O |
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Location: Rhinelander | Doubtful. We are on the list as Heckels was an advertising partner, and I get letters regularly updating us on the status of the proceedings. There's going to be some serious losses for some folks in this mess, that's for sure. |
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| Hi Jim
I heard about the website from one of the people here in Eagle River , I would imagine it's to inform everyone as to whats actually going on. Heckels seems to be telling everyone it's just a minor setback, but as you can see from the website and documents the Bank won the right to foreclose and so did GE also they were ordered to stop spending the banks and GE's cash and their tapped out, What this means for the public is they take a risk if they give a downpayment for a boat or have one there on consignment or in storage or have any other dealings that they will take the money and run, They've done quite a few dirty deals thruout the years judging from the posts across the web. And you see the accusations the Bank and GE are making in documents under oath, so you have to ask yourself whos lying, It's far from a little impass and the real problem is there are people from all over Eagle River and Rhinelander that are unsecured creditors, And If you won't pay a bank why would you pay an unsecured creditor, But by far the worst thing I see happening is they are leading their employees on into believing this will pass , So they won't see this coming they'll just show up for work one day and the doors will be locked, So where does that leave them ? Theres no work here , so what people that work there will lose their homes ? The honest thing to do is prepare the people that work there so they can save some money and inform the public of the truth thats the honest thing to do, but then again the Banks not accusing them of being honest are they ? |
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Location: Rhinelander | Businesses go bankrupt. Its a fairly common occurrence. No one will 'win' in this one; the families of the owners will lose most or all of what they own, many creditors will lose what's owed them, the bank will get hit hard, as will the floor plan companies. If I was an employee, I sure wouldn't expect 'this will pass'. The news is out everywhere, and the Court actions of late certainly are not a secret.
I don't see anyone necessarily 'lying'. I see a business going broke in a spectacular fashion, and an awful lot of folks who are going to suffer losses as a result.
So if an employee lives in a cave, and has no clue the banks and floor plan folks are foreclosing and the business is done, what are you saying is the alternative? If they has any other place to go for work, I'd think they'd have been on the way there after the first repossessions and court order. The darned shame of it is that the jobs will be lost.
Upon execution of the order from the 5th, there ISN'T any 'take the money and run'. That said, if I had a boat there for service, on consignment, or for any other reason, it would already be out of there.
I wouldn't judge too much from 'posts across the web'. I know many, many folks who bought products or had service work performed there who are very happy with the transaction, and I know a couple who were not. It's never those happy folks who post when this sort of thing happens, it's always those who are disgruntled, and if the post is anonymous, there may be no truth to it in the first place. Some folks just get off on kicking others when they are down and out.
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| I took a look at that website today, They have court orders signed today the 11th that I guess means the bank can foreclose on the Heckel marinas, So I guess we'll see some sparks fly now, I guess there done, doe's anyone on here know them ?
I think one of them waited on me when I went to look at boats there a few years ago. |
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| Ranger moved all their boats from the marina to the Derby track, lots of boats. The pontoon company did the same thing. This whole deal is sad. I bought my first boat there in '92, a 16.5' Skeeter bass boat with a 90 horse 'Rude for just under 11k out the door. Bob and Dick have done alot for the fishing industry, they both are GREAT people and will continue to be whether they have a business or not....... |
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| Dick and Bob will do fine. Jim was over there today and had our Ranger serviced. They are going to try and keep the Eagle River Store going. I wish them well.
Cheri |
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| I am an Eagle River resident.... and recently check out the website that is dedicated to spreading the info regarding Heckles. I must say, it's very easy for someone to jump up on their soap box, when they don't identify themselves or provide any information as to who is responsible for posting the information. The domain name was registered by proxy, meaning no name is given. The website doesn't say who is responsible for the content, nor does it provide a means of contacting them. If you have a legitimate gripe, that's fine, but be man enough to back up those claims.
There is no doubt that this is going to be messy, and that people will lose money. |
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Member
Posts: 219
| What happened to the boats that they had in stock. There must be some decent deals on them somewhere, right? |
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| Was just up in Land 'O Lakes, our family has vacationed there for over 40 years. Last few years we've rented a boat from Heckels. We've never had a problem, in fact I'd say we were more than satisfied, both with the boats and the people we deal with. Same thing happened this year --boat rental ran through August 22nd. Found out next day about the money problems. Hope they survive in some form. |
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Member
Posts: 1040
Location: Stevens Point, WI | mrmodog - 8/19/2008 1:58 PM
What happened to the boats that they had in stock. There must be some decent deals on them somewhere, right?
Well, I know from a friend that works at the Dundee, Michigan Cabelas store that many of the Rangers ended up at there store. All the other manufacturers picked up boats that weren't paid for and moved them accordingly I'd imagine, just like Ranger.
Edited by TJ DeVoe 8/27/2008 3:22 PM
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| Anyone knows whats up with Heckels. Was trying to call them and no one answers the phone. Had to do some work up in Eagle River area and the nobody was around. A friend said they shut down the Dubay store too. I thought they were going to restructure not shut the whole business down. I saw that Schroeders in Rhinelander and M&J Sports both have Rangers sitting by them. Are they the Ranger dealers in this area?
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Member
Posts: 1040
Location: Stevens Point, WI | boat shopping - 9/16/2008 9:58 AM
Anyone knows whats up with Heckels. Was trying to call them and no one answers the phone. Had to do some work up in Eagle River area and the nobody was around. A friend said they shut down the Dubay store too. I thought they were going to restructure not shut the whole business down. I saw that Schroeders in Rhinelander and M&J Sports both have Rangers sitting by them. Are they the Ranger dealers in this area?
I was told by one of Heckels pro staff guys they locked the doors up last week. If you look on their website, everything has been taken down for the most part. But yes, M & J is the new Ranger dealer in Wausau, not sure about Schroeders. |
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Location: Rhinelander | Yep, looks like Heckels is done. Chapter 7. |
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| They closed their doors at noon last Friday (9/12) in Eagle River. If you have a boat there, contact them soon. It sounds like you'll have to prove it is your boat.
Too bad.
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| What is going to happen with the left over product? Is there going to be an auction? I really feel bad for all the employees! I hope the Heckel boys didn't lead the employees on like they did to the media and all of us. So much for Dick's comments to the press that it is business as usual. Too bad |
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| The only boats they have left are used and older boats. Alot of their inventory of new boats is sitting at the derby track in Eagle River. I imagine that the bank will auction the rest off to try and recoup their money.
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| When is the auction? |
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Member
Posts: 340
Location: McFarland, WI | Some nice Rangers at the Derby track |
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