Acorn Sign Graphics

[rjssigns]

Anybody hear of this shop? I was talking to a supplier yesterday and she said Acorn closed abruptly.
Couldn't stay afloat after a client wasn't paying a half-million dollar invoice. 43 people out of work.
Would like to know more details. Especially the numbers side of it.

 

[Boudica]

I found this...

Longtime local sign company ceases operations, files Chapter 7 - Richmond BizSense

Henrico-based Acorn Sign Graphics claims a dispute with LL Flooring, one of its largest customers, is the main driver of its downfall.

richmondbizsense.com

 

[rjssigns]

I found this...

Longtime local sign company ceases operations, files Chapter 7 - Richmond BizSense

Henrico-based Acorn Sign Graphics claims a dispute with LL Flooring, one of its largest customers, is the main driver of its downfall.

richmondbizsense.com

Thank you.
They definitely believed in leverage. Yikes!!!
Its initial bankruptcy filing lists assets of $500,000-$1 million and liabilities of $1 million-$10 million, owed to nearly 300 creditors.
The filing does not include amounts owed to specific creditors.

Makes me wonder if there was something else going on behind the scenes.

Saw it happen to a guy I used to know. Everything he touched turned to gold. Boomin' business, spin offs, you name it. If he was involved it was smooth sailing.
Then he got hooked up with the wrong person. Last I knew he was in prison.

 

[Notarealsignguy]

They definitely believed in leverage. Yikes!!!
Its initial bankruptcy filing lists assets of $500,000-$1 million and liabilities of $1 million-$10 million, owed to nearly 300 creditors.

Looks like they had a funnel from their creditors straight into their personal bank accounts.

 

[rjssigns]

Looks like they had a funnel from their creditors straight into their personal bank accounts.

Yeah, some kind of monkey shines goin' on. Would be fun to look at the personal cars/toys, I mean assets of the owners.