Sombrio out of business?

Well Sombrio stepped up and honoured my warranty!!!

Thanks for coming through Sombrio.

:rocker::rocker:

Hopefully they come back from the dead a la Race Face.

Hmm. I guess I shouldn't have chucked out my convertible pants. Although those things were a bloody liability, maybe they'd have had a suitable replacement.

Too bad they went boobs up, but my experience with their stuff was not what I'm sure they'd have hoped it to be.

I have some older Sombrio gear, and like it quite a bit. It's held up ok.

I heard that the quality kind of took a turn for the worse lately. Shitty to hear a Van based company go tits up, but I guess that's to be expected if you let your quality slide…

https://www.youtube.com/watch?v=NcoDV0dhWPA

that was funny

i read an article last year in the new yorker about the "value of education". under the "to learn" category, the author looked at a longitudinal study of college students in the US which had cohorts from a variety of schools and programs take a standardized test in each of their four years of college, and tracked the changes in their performance. i can't remember which group did the best, but business students did the worst - in terms of improving their scores over time - by far, suggesting that they didn't learn much or improve their cognitive and critical skills over the course of their degree. the author also noted that business was the fastest growing post-secondary education area in the US - by far

The ad is correct and the final day of the business looks to be on or about Dec 6th.

Receivership is the process of closing down of a business the has been operating irresponsibly….

No one wants any business to fail and Sombrio did have a lot of potential to be something really great. But at the end of the day success or failure of any business rests solely on the leader of the company. The leader is ultimately responsible for everything, the actions or inadequacies of all involved (employees, athletes, vendors, etc).

As defined by PWC:

What is a Receivership?

A Receivership is a remedy available to secured creditors to recover amounts outstanding under a secured loan in the event the company defaults on its loan payments. A Receiver may also be appointed in a shareholder dispute to complete a project, liquidate assets or sell a business.

Typically, the process begins with the appointment of a Receiver either by the secured creditor under a security agreement (“Privately Appointed Receivership”) or by the Court on behalf of a secured creditor (“Court Appointed Receivership”). Only a licensed Trustee in Bankruptcy can act as a Receiver.

Privately Appointed Receivers will generally only act on behalf of the secured creditor that appointed them and will realize on the assets specifically covered by the loan agreement. Court Appointed Receivers however, are officers of the Court and act on behalf of all creditors. The powers and rights of Court Appointed Receivers are included in the Court order that appointed them.

The Receiver is appointed to take possession of and sell or liquidate the assets secured by the security agreement in order to repay the outstanding debt.

In a Receivership, a secured creditor or the Court may also appoint a Receiver-Manager to operate and manage the business until it is sold as a going concern.

The Receiver’s duties also include notifying creditors of the receivership and regular reporting to the Official Receiver (a representative of the Office of the Superintendent of Bankruptcy) and/or the Court on the status of the receivership.

Receivership and bankruptcy are not mutually exclusive, they can occur at the same time or a receivership can occur without a company being bankrupt. The same firm may act as Trustee in Bankruptcy and Receiver, but often different firms are appointed to these roles.

The Receiver is tasked with selling the assets secured under the security agreement and after deducting the receivership’s fees and expenses, distributing the proceeds from the sale to creditors on a priority basis. In situations where the proceeds from the sale of assets are not sufficient to fully repay the liabilities of the secured creditor, no realizations will be available for distribution to the unsecured creditors.

^^ Bizarre bot?

Receivership is the process of closing down of a business the has been operating irresponsibly….

Bull shit.

Kn.

Bull shit.

Kn.

So not paying your bills is a responsible thing to do??

There are many reasons one might not be able to pay bills, but not all support the conclusion that one is irresponsible. The best, most forward-planning business owners can be hit, and hit hard, with unexpected losses, resulting in cash shortages that can lead to an inability to pay bills.

You've created a fiction and now you're cherry picking data to support it. THAT is irresponsible.

I'm neutral about Sombrio. Don't know any of the owners or employees. Don't much care about their product. But I detest sweeping claims such as yours.

Kn.

There are many reasons one might not be able to pay bills, but not all support the conclusion that one is irresponsible. The best, most forward-planning business owners can be hit, and hit hard, with unexpected losses, resulting in cash shortages that can lead to an inability to pay bills.

You've created a fiction and now you're cherry picking data to support it. THAT is irresponsible.

I'm neutral about Sombrio. Don't know any of the owners or employees. Don't much care about their product. But I detest sweeping claims such as yours.

Kn.

Yeah pretty hard to say it is because they were irresponsible. There are a lot of risks that a company takes particular in the retail business where you have to buy product ahead of time, then hope that it is something that will sell. If things go as planned you can be behind the eight ball pretty quick. Always easy for a peanut gallery after the fact tell you that you did it all wrong.

There are many reasons one might not be able to pay bills, but not all support the conclusion that one is irresponsible. The best, most forward-planning business owners can be hit, and hit hard, with unexpected losses, resulting in cash shortages that can lead to an inability to pay bills.

You've created a fiction and now you're cherry picking data to support it. THAT is irresponsible.

I'm neutral about Sombrio. Don't know any of the owners or employees. Don't much care about their product. But I detest sweeping claims such as yours.

Kn.

Great post.

I'm neutral about Sombrio. Don't know any of the owners or employees. Don't much care about their product. But I detest sweeping claims such as yours.
Kn.

Well Ken now you kinda know one… Although it is case closed for me on this issue, I have a feeling that Sidd may be a former Collegue from my time there.

Rightly or wrongly, or no matter what your point of view is, in these situations it is the staff that tend to get burned the most.

Guys,

In a general context I absolutely agree with what you’re saying. And in all fairness I have not given you any context for my statements, they are founded in my business to business experience with Sombrio and its owner Dave Watson.

Enough said, I appreciate you guys keeping the conversation in check.

Guys,

In a general context I absolutely agree with what you’re saying. And in all fairness I have not given you any context for my statements, they are founded in my business to business experience with Sombrio and its owner Dave Watson.

Enough said, I appreciate you guys keeping the conversation in check.

He didn't try to bunnyhop your bike at Whistler did he?

No one wants any business to fail and Sombrio did have a lot of potential to be something really great. But at the end of the day success or failure of any business rests solely on the leader of the company. The leader is ultimately responsible for everything, the actions or inadequacies of all involved (employees, athletes, vendors, etc).

From someone who knows what it is like to deal with the company and the owner, things like this happen for a reason. Don't feel too bad guys.

There is always something to be said when an owner can not accept responsibility for anything that has gone wrong. ie: the "never dead" article. The thought of an investor company intentionally undermining their own investment should be the first indication that something about the story doesn't completely add up.

Follow the fundamentals of business: stick to your word, respect your customers and employees, manage money responsibly, don't bite off more than you can chew and things will go better than how they went for Sombrio.