Pace American Auction
 

GoIndustry DoveBid Live & Webcast Auctions
December 13, 15, 20 & 22


By order of U.S. Bankruptcy Court, Petition #11-33416-hcd, Pace American - Days 14

4 Major Live Onsite & Webcast Auctions of a Major Cargo & Enclosed Trailer Manufacturer, Featuring: Finished and Work-In-Process Trailers, Aluminum Extrusions; Raw Materials, Vehicles, Woodworking, Metal Fabrication Equipment, Toolroom, & More

Featured Items:
• Finished and Work-In-Process Trailers (Cargo, Race Car, Concession & Utility)
• Trailer Parts; Axles; Wheels; Frames
• Aluminum Extrusions; Raw Materials
• Vehicles; Off-Road UTV's; Golf Carts; Late-Model Tractors; Forklifts
• Wood Working & Metal Fabrication Equipment; Shears; Brakes; Cut-to-Length Lines
• Toolroom; Welders; 100's of Power Hand Tools; Air Compressors
• Drive-In Paint Booths; Drying Ovens
• Jib Cranes; Scrap Aluminum & Steel
• Office Equipment & More

Please note: All auction locations have the items listed above for sale

Sales Details:

Pace American Day 1:
Live & Webcast Auction: December 13, 2011 at 10:00 am (local time)
Auction Location: Fitzgerald, GA


Pace American Day 2:
Live & Webcast Auction: December 15, 2011 at 10:00 am (local time)
Auction Location: McGregor, TX


Pace American Day 3:
Live & Webcast Auction: December 20, 2011 at 10:00 am (local time)
Auction Location: Hurricane, UT


Pace American Day 4:
Live & Webcast Auction: December 22, 2011 at 10:00 am (local time)
Auction Location: Lebanon, OR

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Re: Pace American Auction
 

Does this mean Pace is belly up?
That's news to me!

Re: Pace American Auction
 

No, they will get nobuma bail out $$$ ...

Re: Pace American Auction
 

What a shame! Their on track customer support staff was, without a doubt, the best. They would fix or replace anything on your Pace trailer without any questions or hassle. They made a good quality trailer at a resonable price. Maybe that is why they are gone. They treated their customers fairly! Sad to see this.

I guess they couldn't wait for the hope our President promised.

Re: Pace American Auction
 

...To be honest, he promised hope AND change. we got the change, UNfortunately it wasn't change for the better, and now our HOPE is that there are enough people sick of the current situation they will vote for someone else. Myself, I'd vote for a bag of hammers over Obama, just sayin...

Re: Pace American Auction
 

Here is more news on Pace Trailers and its possible rise from the ashes.

http://www.wsbt.com/news/wsbt-look-t...,5587844.story

Re: Pace American Auction
 

This is/was being discussed in another thread:

http://classracer.com/classforum/showthread.php?t=35357

Basically, Look Trailers bought the name rights and such while the rest of the auctions are for much of Pace's equipment, hardware, etc. I spoke to a Look rep at the PRI show where they had one Pace Trailer. But basically they will continue as 2 seperate entities while reviving Pace and improving on the line.

It sounds like a good business/marketing move because of the recognition of the Pace name. They have a ways to go as Pace will be almost literally "rising from the ashes" and it's still in the very early stages. But they plan to bring it back even better than before.

Re: Pace American Auction
 

When I was up at Pace in the spring I talked to a lady in the office when I first got there and was arranging to have some work done on my trailer. I asked her how business was and she told me it was okay, but it was easy to read between the lines and that things weren't going so well. She also told me the original owners had sold Pace to an investment company a couple of years before and that things hadn't been the same since. The tough economy caused a lot of business to fail, however you would have to think a company like Pace could have made it with the original owners in place.

These investment firms go in and buy companies with borrowed money and unrealistic profit expectations and a lot of times end up failing. I have seen over the years a lot of well run family businesses sold to investor groups that didn't make it and I would bet Pace is just another one. More overhead with large interest payments and top management that is focused on short term profit is a recipe for failure.

Re: Pace American Auction
 

These "investment" companies aren't any different then the other crooks on Wall Street. They buy and sell companies with no regard for the previous owner's and current employees, just to make a profit! . Hard to believe that a company like Pace, IF it was properly managed, couldn't have made it even in these bad economic times. Privately owned companies don't have to publish a balance sheet, so we may never know. I had never heard of the Look brand before, but from the website it appears it had manufacturing and distribution hubs in the same geographic locations as Pace.

Lew

Re: Pace American Auction
 

That's what companies are for, making a profit, not the employees. There will be a replacement that might follow the original owners model.