Epic Fail ?

[Pheasant 54]

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

 

[Davey Crockett]

I saw that too , It will be interesting to find out why.

 

[Obi-Wan]

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.

 

[Fester]

Is this a house building company in Fargo?

 

[Pheasant 54]

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

 

[Davey Crockett]

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

 

[Fester]

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

 

[deleted member]

Unlikely ^^^

 

[Obi-Wan]

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]

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]

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]

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.