Epic Fail ?

Pheasant 54

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KFGO is reporting that Epic Companies doors are closed with phone calls not returned. Looks like contractors are worried about being paid .
 


Obi-Wan

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KFGO is reporting that Epic Companies doors are closed with phone calls not returned. Looks like contractors are worried about being paid .
the contractors are fucked.

https://www.investopedia.com/ask/answers/09/corporate-liquidation-unpaid-taxes-wages.asp

KEY TAKEAWAYS​

  • If a company goes into liquidation, all of its assets are distributed to its creditors based on a pre-determined priority order.
  • Secured creditors are first in line, as their claims over assets are often secured by collateral and a contract.
  • Some assets may have multiple liens placed upon them; in these cases, the first lien has priority over the second lien.
  • Unsecured creditors are divided between preferred and non-preferred, as certain unclaimed creditors like employees and tax agencies are given priority.
  • Shareholders are often last in line to receive proceeds with preferred stock shareholders getting better treatment than common stock shareholders.
 

Pheasant 54

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I believe they are in Fargo, Minot and Bismarck for sure , I think its area 57 in NW Bismarck
 


Davey Crockett

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I had them confused with Epic engineers, a huge engineering firm from Utah that has offices in ND.
 

Fester

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Yikes! Hopefully the people running the show have to empty their bank accounts to pay the debts.....
 

Obi-Wan

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Yikes! Hopefully the people running the show have to empty their bank accounts to pay the debts.....
If they were building for investors there most likely was a bond required so there might be some hope for the subcontractors there.
 

Ericb

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I'm pretty sure they own and Manage several buildings like Area 57. I'm sure someone will be looking to pick those up at a discount.
 


shorthairsrus

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The investor risks the investment. The investment management company takes its cut up front. City as an investor is wherr i have an issue
 

Fester

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Are contractors that did work considered investors? That's where my concern lies. People that did work that are due money. Investors take the risk of losing money.
 
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