Woods is broke .........Please read

Discussion in 'Lawn Mowing' started by Rodney Johns, Mar 17, 2001.

  1. Rodney Johns

    Rodney Johns LawnSite Member
    Posts: 121

    If you haven't heard here is the scoop. Denial is what you will get if you confront someone about this. Woods is as close to broke as a company can get. We are all in denial about this recession we have been in for over a year. Well it caught up with woods last month. Woods had a 50 Million dollar negative asset value. Translated came out to 10% layoffs in management and speculations of major layoffs in the plant very soon. They have hierd a guy to come in and save the company but I think it is too little to late. It comes from a declining repution and changes in the way they make there products. They have cut corners and began producing cheaper made equipment and unless this changes there is no recovery for this company. There is a possiblity that New Holland could buy them up if this has not already occuring. The problem is that Woods has picked up a lot of little junk satelite companys from what I hear. If they get rid of these companys New Holland will buy. I would hate to see it personally because New Holland has a good reputation and I feel like Woods would drag them down a little until they get this together. Woods has finally managed to get a $50 million loan to keep the doors open for a while but I think they are running on borrowed time. Plastic bushings, thin metal, new products not tried and true........You be the judge. I am only repeating gossip, but my sources are realiable and high in the industry. Be your own judge. I do not endorse nor discourage purchasing woods. JUST DO YOUR HOMEWORK> THIS IS NOT A LINE OF CRAP!
     
  2. skyphoto

    skyphoto LawnSite Member
    Posts: 221

    This may sound bad but the only woods equip. I ever see around here is old stuff...Unless Woods own some other brand that is not marketed under the woods name I have never seen a woods dealer that sells mowers....only 3pt attachments....

    Who knows?????
     
  3. Bassman

    Bassman LawnSite Senior Member
    Posts: 270

    Sorry I do not know of Woods. What do they mfg?
    I guess if I don't know of them, I won't be affected if they go under. I'm sure the people working for them would have a different opinion though.
     
  4. bob

    bob LawnSite Platinum Member
    from DE
    Posts: 4,254

  5. Richard Martin

    Richard Martin LawnSite Fanatic
    Posts: 14,700

    Woods does market a lawn mower. It's a ZTR and it's called The Woods Mowin' Machine. Woods does not build this mower though. It is built by Gravely and is an exact duplicate of the Gravely 260Z.
     

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