Hi - Sadly I'm probably one of hundreds that have been eagerly awaiting a new Pole Bike after placing an order in recent months ... whilst I feel for the guys at Pole, I'm personally fuming that Pole were (and STILL ARE) so keen to take FULL PAYMENT from me for an order they knew they weren't going to be able to satisfy. I was a Sonni Frame only order - very little components required - I'm out of pocket for many thousands even with this small order - I'd hate to think what some people are owed out there. I've also got a garage full of expensive parts and no frame to attach them too. All VERY frustrating. Sad times.
Agreed. I'm hoping for Chapter 11-style reorganization. This would allow the company reemerge with zeroed out equity shares and any unsecured lenders taking a hit first. As to the leadership, Leo might have to take back seat but remain on as a lead designer. A similar structure would exist if Pole were to be bought out, which could still theoretically happen.
The court appoints a trustee to liquidate all assets and pay off creditors.
I got my Sonni yesterday, so there could still be some hope for some folks bike delivery. It depends on the work week that Pole commit to for work week assembly. Mine was the 3rd week of March.
If you paid via credit card then you can action a Section 75 Chargeback through your card provider meaning you will be reimbursed as your purchase is insured, don't be a fool and assune you've lost your money when the credit purchase facility is there to protect the consumer and not the retailer.Hi - Sadly I'm probably one of hundreds that have been eagerly awaiting a new Pole Bike after placing an order in recent months ... whilst I feel for the guys at Pole, I'm personally fuming that Pole were (and STILL ARE) so keen to take FULL PAYMENT from me for an order they knew they weren't going to be able to satisfy. I was a Sonni Frame only order - very little components required - I'm out of pocket for many thousands even with this small order - I'd hate to think what some people are owed out there. I've also got a garage full of expensive parts and no frame to attach them too. All VERY frustrating. Sad times.
I though customers would be first. Ahead of trade payable and secured creditors . like says bank loans secured via general security agreement or something like this.Sadly, customers awaiting orders are usually way down the list of creditors to be paid back when a company ceases trading.
They’ll be behind taxes, secured creditors, and employees owed salaries usually, to name but three.
Best to hope for is that people paid with a credit card and they can claim their cash back via them.
None of us know the precise details of why Pole are in the place that they are, but it’s a situation that sucks big time for all concerned.
Anyone who has placed an order using their credit card should action a Section 75 or similar chargeback through their card provider as your money ( actually their money ) is protected and you will receive a refund, if anyone has paid via debit card ( your own money ) then you are not protected and so will have to join the queue of other creditors, if anyone is unsure or in doubt I would suggest you read your credit card agreements to educate yourself into the procedure of how to raise the issue with your provider and commence with a chargeback.
I think the hard truth that the doors of Pole are closed and Leo does not have access to anything. He was an employee of a company no longer running. The only way you might gain access to that info is if somebody buys the business.
Post your request in the Facebooke group Pole Bicycle Riders Group.
ok thanks, have to make an Facebook account then.. oh the horrors...
They have been down for some time now. I agree, it is not a good sign but I still keep my hopes up. However, if nothing happens in the next 4-5 months, so 6 months after going under, then the chances of resurrection as decreasing.
Yeah, the longer the delay the less chance there is. Also the experience has most likely left the building already. Those machinists wont be sitting around at home waiting for a restructure. They would have moved on to other jobs by no.
Can you link what post on FB that comment was made? Im in he Pole group already. TIA
Sorry, already forgotten and cant find it myself.
I’m sure there will be in time.
