Tirecraft files bankruptcy - Rennlist - Porsche Discussion Forums

Notices

Tirecraft files bankruptcy

 
Old 06-23-2008, 04:33 PM
  #1  
webbie
User
Thread Starter
 
webbie's Avatar
 
Join Date: May 2004
Location: GTA
Posts: 515
Default Tirecraft files bankruptcy

We all knew tires cost much more up North here. Where did the profit go? The manufacturer?

From June 20, 2008:

TIRECRAFT GROUP INC. FILES BANKRUPTCY ľ
INCLUDING REMINGTON TIRES DISTRIBUTIONS INC.

Effective immediately, Tirecraft Group Inc. filed bankruptcy and closed its doors. The future of Tirecraft is indefinite pending discussions with interested parties with regard to the sale of Tirecraft.
Also impacted is Remington Tires Distributions Inc.
webbie is offline  
Old 06-23-2008, 05:08 PM
  #2  
Dale Gribble
Pocket Sand
Rennlist Member
 
Dale Gribble's Avatar
 
Join Date: Jul 2004
Location: Ask Rusty Shackleford.
Posts: 7,657
Default

well so much for my tire supplier.
saw this one coming. unfortunate.
Dale Gribble is offline  
Old 06-23-2008, 05:23 PM
  #3  
theiceman
Super User
 
theiceman's Avatar
 
Join Date: Aug 2005
Location: Cambridge Ontario Canada
Posts: 22,625
Default

need some cheap tires , wonder if they are gonna liquidate ..
theiceman is offline  
Old 06-23-2008, 06:16 PM
  #4  
Raymond Lum
User
 
Raymond Lum's Avatar
 
Join Date: Jun 2007
Location: Toronto
Posts: 131
Default Tirecraft is still around

Tirecraft in Concord is still in business.

Talking to Jeff Wenzel today, he said the main company holding the Tirecraft name and liciences closed down.

Tirecraft in Concord is a separate entity. They will be renaming their Tirecraft location in the very near future.

Nothing will change except their new name.

Stay tuned.
Raymond Lum is offline  
Old 06-23-2008, 06:49 PM
  #5  
Mark Lue
Super User
 
Mark Lue's Avatar
 
Join Date: Oct 2001
Location: Ontario or SC
Posts: 2,145
Default

Originally Posted by Raymond Lum View Post
Tirecraft in Concord is still in business.

Talking to Jeff Wenzel today, he said the main company holding the Tirecraft name and liciences closed down.

Tirecraft in Concord is a separate entity. They will be renaming their Tirecraft location in the very near future.

Nothing will change except their new name.

Stay tuned.
Thanks Raymond, good to know... I was going to give Jeff a call as I noticed the original shop backing on Hwy#407 was closed.
Mark Lue is offline  
Old 06-24-2008, 02:17 PM
  #6  
Nape75'911T
Addict
Rennlist Member
 
Nape75'911T's Avatar
 
Join Date: Sep 2006
Location: Brooklin, Ontario, Canada
Posts: 168
Default Many of the stores....

will remain open.....the independent stores will change their names.

It's a shame. From what I have heard, the business was a good one, making money, and viable. The origional owner sold it 5 years ago to retrire. I was told 2 brothers, essentially venture capitalist types, from Alberta purchased the company with dreams of making it public, and making lots of coin. They had no idea of how 'hands on' and tight the business is, so essentially they took the receivables, and stopped paying bills, forcing bankruptcy......(remember, this is what I heard from a friend, who is also a Tirecraft dealer).
Now, the old man, is 70, and has purchased 20 of the locations back in AB, and is trying to purchase the name back......

People like my friend are operating independently, and waiting to see what shakes out. In the GTA, I believe KAL tire is looking to step up.....try them perhaps.

It wasn't tire margins or competition that killed Tirecraft, it was greed apparently....go figure.

But it works so well for the government.....

Mark
Nape75'911T is offline  
Old 06-24-2008, 05:05 PM
  #7  
Zookie
Super User
 
Zookie's Avatar
 
Join Date: Sep 2004
Location: Toronto, Bombay, Kuwait & Dubai
Posts: 6,528
Default

I LOVE TIRES!!!!!!
Zookie is offline  
Old 06-25-2008, 04:20 PM
  #8  
YYC930
Guest
 
Join Date: May 2005
Posts: 1,934
Default

I deal with a Tirecraft here in Calgary. They are independantly owned and AFAIK are not changing their name.
YYC930 is offline  

Thread Tools
Search this Thread
Quick Reply: Tirecraft files bankruptcy


Contact Us About Us Advertising Cookie Policy Privacy Statement Terms of Service

© 2019 MH Sub I, LLC dba Internet Brands

We are a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for us to earn fees by linking to Amazon.com and affiliated sites.
 
  • Ask a Question
    Get answers from community experts
Question Title:
Description:
Your question will be posted in: