It is a common misconception that only small companies go out of business. In actual fact, this is a risk faced by many businesses of all sizes on a daily basis. A prime example of this fact comes in the form of Premier Surfaces, a Kansas city based granite company raking in over 40 million dollars per year. Here is the story of how they went out of business and left their customers in the dark…
Despite being a reputable granite company with a vast array of customers around the United States, the company executives seemed to vanish once Premier Surfaces went bankrupt. Unfortunately, this left the likes of Nebraska Furniture Mart, who conducted regular business with Premier Surfaces, to handle the aftermath alone.
Premier Surfaces went out of business because they owed money on employee salaries, equipment, and more, leveraging themselves financially undenounced to the public or their customer base. The company business model consisted of securing material on consignment (also known as credit), only receiving payment once the goods were sold.
If you are not able to pay for the material upfront, instead opting for consignment, then you are never going to be able to get the best possible price. In actual fact, most suppliers will hit you with the highest prices possible. Not only this, but Premier Surfaces also leased all of their equipment, even taking out loans against this machinery which is a complete scam.
Every single customer who had already put down a deposit or paid for an upcoming job in full lost 100% of their money due to Premier Surface’s bankruptcy. However, many of these customers are now filing lawsuits in order to receive compensation. When everything is sold off in a bankruptcy case, the material in question gets returned to the suppliers. Whatever is left is used to pay the creditors, while the customers have to wait in line for their own refunds. Unfortunately, these customers are getting pennies to the dollar as there are no further assets for Premier Surfaces to sell off.
You may be wondering why we are bringing up such an issue today. The reason behind this is the fact that there are still plenty of small granite companies operating in the exact same way as Premier Surfaces, meaning that there will be more cases of customer loss in the future.
Fortunately for you, AnyTopShop is different. ATS does not owe any money on any of the equipment or material we use, with no loans or leases in sight. We buy slabs in bulk in order to get the very best prices, paying them upfront every time. This ensures the customers today, tomorrow, and far into the future can feel secure in their deposits and payments. No consignments means low prices and high savings for customers. The way we see it, we do not make money on granite when we sell it, we make money on granite when we buy it. We keep costs low with no salespeople or commissions involved. In fact, no ATS employees work on commission, ensuring that we work with the customer in mind every time. The same product at cheaper prices with no consignment inflation.
Today more than ever, with the instability of the COVID-19 pandemic, it is important to only do business with those who can guarantee your long-term financial safety. At ATS, with no loans or consignments, nobody can lock our door but us. Your installation is guaranteed, and at lower prices too!
Get in touch today!