jjfromtheburgh Posted June 2, 2009 Report Share Posted June 2, 2009 Has anyone seen this? Gulf Coast Spas is now Pinnacle Spas... I just don't understand how they can close shop and then re-open under a new name. There seems to be a pattern here. Is this legal? I am not an attorney but I plan to contact my states Attorney General Office to get to the bottom of this. I called Pinnalce today and asked them if they are honoring the Gulf Coast warranty. Of course the answer was no. But the guy said they are selling them brand new. I just don't get this whole cycle of manufacturing the spa under one name and selling it under another and then closing the doors only to sell it under another new name. I don't even know what good will come of this??? I am sure there are a lot of people that are in the same situation as myself and don't know where to turn. Quote Link to comment Share on other sites More sharing options...
Dr. Spa Posted June 2, 2009 Report Share Posted June 2, 2009 Gulf Coast Spas goes bankrupt Pinnacle Spas buys their assets, including their name, in bankruptcy court Pinnacle Spas now has the legal right to use the Gulf Coast Spas name with no obligations towards the old warranties (or ANY OTHER past liabilities). Perfectly legal....don't bother wasting a dime on the phone call. Quote Link to comment Share on other sites More sharing options...
drb9 Posted June 2, 2009 Report Share Posted June 2, 2009 Gulf Coast Spas goes bankrupt Pinnacle Spas buys their assets, including their name, in bankruptcy court Pinnacle Spas now has the legal right to use the Gulf Coast Spas name with no obligations towards the old warranties (or ANY OTHER past liabilities). Perfectly legal....don't bother wasting a dime on the phone call. And, it's also perfectly legal discuss a company's history (newcomer, picked up assets at bankruptcy sale) on forums, to warn prospective purchasers that warranties are worth less from less-established and less-secure companies. Quote Link to comment Share on other sites More sharing options...
jjfromtheburgh Posted June 2, 2009 Author Report Share Posted June 2, 2009 that seems awfully quick of them to file bankruptcy and then to sell to another company in the matter of only a few months. the problem that i have it that this is not the first time they have done this. tatum owns multiple hot tub companies. if you ask me this appears to be some kind of scam. it may be legal but unethical. i'll chalk all of this up as a valuable lesson learned. too bad they don't have a lemon law on hot tubs as they do on vehicles. this hot tub actually cost more than a few of the vehicles i have owned. Quote Link to comment Share on other sites More sharing options...
spatech (the unreal one) Posted June 2, 2009 Report Share Posted June 2, 2009 I could see buying GC spas assets that name hardly carries quallity recognition. Quote Link to comment Share on other sites More sharing options...
Dr. Spa Posted June 4, 2009 Report Share Posted June 4, 2009 Tatum only owned ONE company...but the company made spas under a number of different names. Like GM, and ALL the different names they manufacture cars under. How long do you think it takes from when a company goes chapter 13 till their assents are sold off by the bankruptcy court (it was NOT Tatum that sold it's assents, bu the US bankruptcy courts...the assents of that sale would then be used by the court to pay debtors, typically a very small percentage of what they're owed). And, as far as I'm aware, Tatum Manufacturing, formerly Gulf Coast Spas, hadn't filed bankruptcy before. And lastly, how can you possible know of how secure or unsecure a privately held company is? Quote Link to comment Share on other sites More sharing options...
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