Shrockworks 4X4 - Out of Business as of 14 January 2023

[Mr. Bills]

FYI -

On 14 January 2023, Shrockworks 4x4 posted this on Facebook:

"After two decades of serving the off-road community, it is with heavy hearts that we announce we have to close our doors. We assure you every other option has been extensively explored. This is the last outcome we ever imagined for the company we have worked so hard to build. The last few years of economic hardship and rising cost of goods has been detrimental for small businesses. We have heard all of your frustrations and understand completely; we are working hard to assure the best outcome for a terrible situation. Thank you for your years of support and your patience as we navigate this difficult process."

https://www.facebook.com/shrockworks


My suggestion: Anyone who has tendered a deposit for a pending order should promptly contact his/her credit card company or financial institution to initiate the process for a claim or refund.

 

[Gollywomper]

Nice. So they spent everyone’s deposit then went bankrupt and are asking banks to foot the bill?

 

[Mike_H]

Nice. So they spent everyone’s deposit then went bankrupt and are asking banks to foot the bill?

That's generally what happens in a bankruptcy. The banks seize all assets and then they divy the proceeds evenly to the debtors...until the laywers get involved anyway.

I think @Mr. Bills added the last sentence as his own commentary though...Advice if you will. I didn't see anything on the FB page about bankruptcy, just that they were closing. I can only hope they made that decision to close the store first then satisfy the backlog.

 

[Gollywomper]

That's generally what happens in a bankruptcy. The banks seize all assets and then they divy the proceeds evenly to the debtors...until the laywers get involved anyway.

I think @Mr. Bills added the last sentence as his own commentary though...Advice if you will. I didn't see anything on the FB page about bankruptcy, just that they were closing. I can only hope they made that decision to close the store first then satisfy the backlog.

Just sucks for the consumer.

 

[Mr. Bills]

Nice. So they spent everyone’s deposit then went bankrupt and are asking banks to foot the bill?

There is NO evidence at this time that the company spent anyone's deposit money or that the company has already filed a bankruptcy petition.

I don't find conjecture or unattributed hearsay about what happened or why to be particularly relevant to the task at hand, which is for customers who paid deposits for pending orders to take immediate steps with their own financial institutions to secure refunds or chargebacks.

We can castigate Shrockworks later.

 

[sourbluff]

I saw more than one thread on FB groups from people who had placed orders several months back with no communication or follow up so seems like they may have screwed people over on way out. Granted this is hearsay but

 

[Gollywomper]

It’s not good. They have a lot of peoples money.

 

[Mr. Bills]

It’s not good. They have a lot of peoples money.

No, it is not. However, whether or not they are holding customers' money or that money has been long spent is conjecture at this time. Hopefully, there won't be any members of this forum or the others I frequent who lose money, but the odds of recourse from the company are not good. The odds are better with the credit card companies, but one must move quickly.

I have always thought it extremely risky to put a deposit on a credit card when the product is backlogged longer than the deadline for disputing a charge. Personally, I won't do it unless the company is willing to refund and re-charge every 80 days until the product ships. That way I'm always in the time window for a chargeback by my bank.

 

[Gollywomper]

No, it is not. However, whether or not they are holding customers' money or that money has been long spent is conjecture at this time. Hopefully, there won't be any members of this forum or the others I frequent who lose money, but the odds of recourse from the company are not good. The odds are better with the credit card companies, but one must move quickly.

I have always thought it extremely risky to put a deposit on a credit card when the product is backlogged longer than the deadline for disputing a charge. Personally, I won't do it unless the company is willing to refund and re-charge every 80 days until the product ships. That way I'm always in the time window for a chargeback by my bank.

It is rare that I will put a deposit down for a backordered part. I paid $1200 up front for a coil suspension “kit” for my samurai years ago. Longest 3 months ever. Lol.

 

[Lostson03]

It’s not good. They have a lot of peoples money.

Yes it is. I actually made a purchase with Jim the owner in November on a bumper. I get the lengthy timing of fabrication. Yet it's plain screwed up that he had no intention of building my bumper. He straight up took my money.