Bad week

Discussion in 'Lawn Mowing' started by THill3, May 5, 2005.

  1. THill3

    THill3 LawnSite Member
    Posts: 60

    Worst week I have had in a while. I am pretty small. I tried to go big this year and put out a lot of bids. Got several of them back and things were looking good. I really only have two days a week I can mow or do anything. I am single father of my three kids (3,2,1) as you can see they are still very young. Their mother gets them on Thursday and Friday each week. SO I tried going big this year and things were going great. Still had all the accounts from the past 6 years and got the big ones. I bought all new equipment this season. 2000 f250 24ft enclosed 2 new Ferris 52/27 and things were going great. Then I get a call from one of my first clients ever. They need to suspend service for other work being done. Ok, I can handle that. Then the next day get a letter from a law firm. My apartments, 6 in all, filed bankrupcy and that I cannot go after them for the money they owe me and to send my bill to Law office. They canceled service immediatly. So I went from busting my but 12 hours a day two days and some landscaping on Saturday when I had family to watch the kids to working 6 hours on Thursday and that is it. Just sucks and needed to vent.
     
  2. pagefault

    pagefault LawnSite Senior Member
    Posts: 492

    Sorry to hear that. Get it out of your system and get to marketing.

    There is a lesson to be learned here, that I have learned the hard way in other businesses. I was once bidding on a project for a HUGE company and I feel very strongly that we had the best proposal out there. We didn't get it. Why? Their order would have been larger than all of our other contracts combined. They knew we could ramp up to handle it, but if things got tight on their end and the orders slowed down or stopped for a while, we would collapse under all of the investments we had to make to handle their business.

    I had to edit this because I forgot to tell half the story. I'm pretty tired. Anyway, we bid a similar job for a similar GIANT company a while later and we got it. That company filed for bankruptcy in the middle of our deployment. We had tons of inventory and a huge support staff and had no use for any of it. We laid off a ton of people and nearly went under. Of course, if we had gotten both contracts, we might have been ok.

    So, I try not to bid on anything that is so big that I would be screwed if I lost it. If that makes sense. If I have to spend a ton of money to handle a job and that job is the only way to pay for that investment, then I don't want that job...yet.
     
  3. MMLawn

    MMLawn LawnSite Gold Member
    Posts: 3,569

    Man I am sorry to hear that! The best thing to do is get out there and try and replace them. When payments depend on it it makes doing it easier if you know what I mean. Also it doesn't help any now but I always tell folks to never, ever buy equipment based on any one job. Talk to the Good Lord about it tonight and Good luck!
     
  4. sheshovel

    sheshovel LawnSite Fanatic
    Posts: 5,112

    If they filed bankruptcy you have so many days to file your claim of money they owe you,You will get paid from them liquidating assets or whatever.Slap a mechanics lean on them or file papers with the court demanding you be paid thru the proceedings.Find out NOW!!or you won't see a dime
     
  5. MMLawn

    MMLawn LawnSite Gold Member
    Posts: 3,569


    Sheshovel, you CAN'T file any "liens" on them once they filed that Bankrupcty. He does need to file his money claim with the attorney and they may or may not liquidate as it depends if they filed a Chapter 11 or not. Even so he'll be lucky to get anything because he is a Unsecured Creditor and thus a Level 3 so the Secured Creditors and the Priority (IRS/Tax Depts) will get any funds there are first and they will get ALL of theirs. Any left over would be split with the Unsecures.
     
  6. pagefault

    pagefault LawnSite Senior Member
    Posts: 492

    This was in my past, corporate life. A multi-billion dollar company filed for bankruptcy and we were a small vendor with about 100 employees, screaming for our $5 million. We were in line behind a lot of other billion dollar companies who were owed a hell of a lot more than us and there was only so much money to go around. Not to mention that these things take a loooooooong time to resolve. We would have gone out of business if we had been betting on getting our money from them in time to save ourselves.

    We just had to go out and hustle up new business, FAST. And we did.

    I know you're not a fan of my application of lessons learned in other businesses, but there it is.
     
  7. pagefault

    pagefault LawnSite Senior Member
    Posts: 492

    Yeah, that's about the size of it...
     
  8. THill3

    THill3 LawnSite Member
    Posts: 60

    Thanks for the advise everyone I know I can turn it around and the really great thing is that all the stuff is paid off. I was going to buy new stuf last year but was having trouble with my ex-wife. So I held off and tried to justify all the purchases. The truck I got I thought I needed a new car but hated cars so I bought the crew cab and it was like 14k so I bought it. The trailer was part of the truck deal and couldn't turn it down. With the mowers I new I needed them for the new jobs and had someone with me for a bit but got rid of him. I just figured I would have the equipment for whatever job came my way. Again thanks everyone and I did send my bill to the attorneys office this morning. Just seems to be my luck lately but hey I got my kids and they are happy so I am happy.
     
  9. sheshovel

    sheshovel LawnSite Fanatic
    Posts: 5,112

    Well I know that!Don't know why I said that.Guess I was trying to tell him get papers of SOME KIND filed.and get your foot in the door anyway and try.It depends on the type they filed as you said.
     
  10. pagefault

    pagefault LawnSite Senior Member
    Posts: 492

    Sometimes I wonder if people really read these posts or if they scan for keywords...
     

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