Hood decides to screw Brigham's creditors

By Ron Newman on Thu, 07/10/2008 - 8:41am

After buying Brigham's last month, Hood decided it was perfectly OK not to bother paying Brigham's suppliers.

Meanwhile, Brigham's web site is still offline, with a message that says "If you have any questions about Brigham’s Ice Cream, please feel free to contact us by phone at 1-800 Brighams or by e-mail at [email protected]". When I e-mailed that address, their mail server promptly bounced it with a "destination server not responding" error.

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Business

Annoying companies

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Brigham's

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Comments

"Sorry, suckers!" in corporatespeak

By Gareth on Thu, 07/10/2008 - 8:56am.

"The funds received from the sale were substantially less than necessary to satisfy Brigham's secured creditors in full. As a result, there will be no distribution available for the unsecured creditors."

So they sold it for less than they owed? Or would Mister Wexler prefer to eat Doug Bailey's lunch himself?

I love the line, though. I can imagine Blimpie saying it. "Yes, my good man, that was a capital hamburger you served me, but unfortunately the funds received from my employer were substantially less than necessary to satisfy my unsecured creditors in full. As a result, I will gladly pay you Tuesday."

Hood didn't buy Brigham's

By alkali on Thu, 07/10/2008 - 12:49pm.

Hood bought some of Brigham's assets. Even after getting paid, Brigham's didn't have enough to pay off its suppliers. If Hood hadn't bought those assets, Brigham's would have had even less money available to pay suppliers.

Hood is a bad corporate citizen, then

By Ron Newman on Thu, 07/10/2008 - 12:52pm.

So Hood bought the Brigham's assets without the liabilities? That's a piss-poor way to do business and a good way to ruin your carefully built local reputation.

Brigham's did not declare bankruptcy, and therefore cannot unilaterally decide not to pay suppliers.

Brigham's was the bad corporate citizen.

By anon-o-mus on Thu, 07/10/2008 - 9:27pm.

Brigham's was the bad corporate citizen for procuring services from vendors they never had any intention of paying.

You can't expect other companies to come in and clean up a mess they had no hand in making just for some good PR. (Hello -- that blimp ain't free.) Besides, the money received from Hood by Brigham's will at least pay some of the creditors -- just not all.

who paid who, who owes what

By Anonymous on Thu, 07/10/2008 - 2:21pm.