Big Rig Trailers & Leasing Inc.

[Jim L]

Is this the baby version of Prime?

Big Rig Trailers and Leasing (Big Rig Group) out of BC, AB, ON and California has been forced into receivership on July 5. Big Rig Group sells and services trucks and trailers. They have defaulted on loans of approx 16 million to RBC. By the looks of it there are similar issues to Pride with alleged duplicate VINS being on multiple inventory list, missing assets and failing to provide records to the receiver.

You can get more information at:

Creditor updates

Updates for creditors, limited partners, investors and shareholders.

www.grantthornton.ca

 

[LrgCar]

Is this the baby version of Prime?

Big Rig Trailers and Leasing (Big Rig Group) out of BC, AB, ON and California has been forced into receivership on July 5. Big Rig Group sells and services trucks and trailers. They have defaulted on loans of approx 16 million to RBC. By the looks of it there are similar issues to Pride with alleged duplicate VINS being on multiple inventory list, missing assets and failing to provide records to the receiver.

You can get more information at:

Creditor updates

Updates for creditors, limited partners, investors and shareholders.

www.grantthornton.ca

Same thing, started as a trucking company, pretty good size in California, got into trailer sales, was an authorized Vanguard dealer and when equipment was scarce made a killing. Started trucks sales as well as opened locations in Canada. Im guessing they had a similar demise as Pride, must be sitting on a bunch of inventory.

 

[Jim L]

There is a lot more to this one.
First, the company is not assisting the monitor. That is a big red flag.
Second, the last monitor report, July 12, describes a bunch of equipment, that was supposed to be secured, was switched with equipment with apparent VIN plate changes.
Third, the landlord where the equipment is stored is saying that the equipment belongs to someone else and will not allow the monitor agent to do a complete report of the vehicles at the secured site.

It's a real mess and hopefully will be investigated for criminality.

 

[LrgCar]

There is a lot more to this one.
First, the company is not assisting the monitor. That is a big red flag.
Second, the last monitor report, July 12, describes a bunch of equipment, that was supposed to be secured, was switched with equipment with apparent VIN plate changes.
Third, the landlord where the equipment is stored is saying that the equipment belongs to someone else and will not allow the monitor agent to do a complete report of the vehicles at the secured site.

It's a real mess and hopefully will be investigated for criminality.

It's expected when you allow foreign entities to conduct business in Canada. Banks blindly funded these guys, it was a shit show from the start. Thats how things are in done in the US, and that how they are trying to do it out here.