Honestly, I'm not throwing shade at anyone but if you think they're doing so well, check the Ritchie bro auctions. Multiple 2024 and 2023 Freightliners are there which belong to tpine/pride. Secondly, if the business is so profitable why eat away at the $36 million the government provided to them for their bankruptcy protection. Even the monitor stated in the last report that this business is not sustainable and not seen as a going concern. Trucks that pride truck sales is selling have multiple liens and they can't do anything about it when they sell it. Its all facts here, nobody is just talking things out of their mind.
Pride Group - TPine
- Thread starter SCAM CHASER
- Start date
How about Rich products to start and having to haul Wal Mart loads on their trailer so they don't get sized, I'm not going to argue with you. If you want to believe everything is fine so be it. Its not like there is no information on here about their problems and if you believe everything Pride is telling you you might have a big problem next week.
i know the problems and iam ready for future but in reality i told u its busy week and i told u b4 hersheys,conestoga and lactlis are major customers who hv dropped pride if u know any other tell me.They are returning trailers and trucks as they hav hired people working daynight removing stickers.What i have heard is they will operate in small number in logistics by cutting down fleets.If it goes down we see iam just telling u whats happening here.
For my peace of mind, I would confirm with the carrier that they received funds from TPine before remitting to TPine. (I did this with one invoice we had just after the initial filing). At some point they won't be operating and you don't want to have paid TPine and have carriers coming back to you or your customers for payment they didn't receive.
I agree 100%, we have been verifying this with every carrier on every invoice that we have received from T-Pine for the last 3 Months.
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Shakey
Site Supporter
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In an Aug. 26 letter, equipment financiers said they have lost confidence in the Monitor while also raising concern over the going-concern sale agreement.
“Simply stated and with respect, the financiers have lost confidence in the Monitor’s and the CRO’s (chief restructuring officer’s) ability to advance a wind-down in a manner that the financiers are prepared to support,” said a letter from law firm Aird & Berlis LLP, representing financiers.
“This is compounded by concerns over the fact that the Monitor has continued to engage in discussions and efforts to advance a going-concern sale to a related entity, despite seemingly universal creditor opposition. This is the case notwithstanding that it is now over one month following the outside closing date set out in the court-ordered sale process.”
“Simply stated and with respect, the financiers have lost confidence in the Monitor’s and the CRO’s (chief restructuring officer’s) ability to advance a wind-down in a manner that the financiers are prepared to support,” said a letter from law firm Aird & Berlis LLP, representing financiers.
“This is compounded by concerns over the fact that the Monitor has continued to engage in discussions and efforts to advance a going-concern sale to a related entity, despite seemingly universal creditor opposition. This is the case notwithstanding that it is now over one month following the outside closing date set out in the court-ordered sale process.”
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Shakey
Site Supporter
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Not when you pulled out 350 million of their retained earnings at the end of 2023 when you saw no way out.
Note to the PGL staff: this is a fact from their bankruptcy papers
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Like I said on here before, this whole thing is crazy. My guess is they are put out of their misery next week.
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Keep us updated on DRIVER/OWNER OPERATOR PAY ..I assume they were not delayed any week so far