spinlps Posted November 5, 2005 Report Share Posted November 5, 2005 Heads up to RT customers... It sounds like RT may be no longer. While the web site is still up and apparently taking orders, the owner alledgedly filed for bankruptcy on 10/15/2005. Caveat Emptor. Quote Link to comment Share on other sites More sharing options...
Brad Posted November 5, 2005 Report Share Posted November 5, 2005 Even if that were true, you need to distinguish between Chapter 7, liquidation, and Chapter 11, reorganization. Chapter 11 would be the most likely option. Quote Link to comment Share on other sites More sharing options...
J.A.W. Posted November 5, 2005 Report Share Posted November 5, 2005 There's an earlier thread about it here, and more info over on Steve Hoffman's Forum. Quote Link to comment Share on other sites More sharing options...
J.A.W. Posted November 5, 2005 Report Share Posted November 5, 2005 Even if that were true, you need to distinguish between Chapter 7, liquidation, and Chapter 11, reorganization. Chapter 11 would be the most likely option. ← Red Trumpet's owner Rick Flynn filed for Chapter 7 (check out the SH Forum link in my last post). Quote Link to comment Share on other sites More sharing options...
Dan Gould Posted November 5, 2005 Report Share Posted November 5, 2005 I'm not a member of the Hoffman forums so I'll post here what I'd like to say over there: Hold your horses, people! The information posted at the start of that thread refers to the individual Rick Flynn. NOT the business, Red Trumpet, LTD. The further fact that the website continues to process orders indicates to me that the company is still in business. As has been noted, Chapter 11 is the kind that precedes a reorganization, a new business plan, and another chance. Chapter 7 calls for liquidation of assets to pay off creditors. Now, it might make sense to keep the website operational for orders, but only if the orders are limited to what is on hand, i.e., a court-ordered attempt to sell, at near-full price, on hand stock in order to maximize funds available to creditors. Does this mean that I'm about to order something? Hell no! But I do think people are making assumptions based on facts not yet in evidence. Quote Link to comment Share on other sites More sharing options...
BeBop Posted November 5, 2005 Report Share Posted November 5, 2005 Heads up to RT customers... It sounds like RT may be no longer. While the web site is still up and apparently taking orders, the owner alledgedly filed for bankruptcy on 10/15/2005. Caveat Emptor. ← Even if that were true, you need to distinguish between Chapter 7, liquidation, and Chapter 11, reorganization. Chapter 11 would be the most likely option. ← Minor point: if RT is owned by an individual and that individual files bankruptcy, it would be under Chapter 7 or Chapter 13. Quote Link to comment Share on other sites More sharing options...
wolff Posted November 6, 2005 Report Share Posted November 6, 2005 Been doing business with RT for years. I'll miss them. On a brighter vinyl note: The Silver Platters near me has a decent vinyl section that I just recently noticed. I probably passed it by for a couple years, before I went in to get the Gillespie/Parker CD. Quote Link to comment Share on other sites More sharing options...
spinlps Posted November 6, 2005 Author Report Share Posted November 6, 2005 Been doing business with RT for years. I'll miss them. Ditto here. I got my vinyl fix through RT after my son was born in '01. I swear I had a package arriving every week for the first 2 - 3 months... nothing like 3am orders that only vaguely registered when the package arrived! I was a solid customer until last fall when orders started taking longer to fill and a couple of family members got the run around when following up on Xmas gifts they ordered for me. Still, I hope they reorg and return in the near future. They had some great regular sales and the pre-order pricing rocks. Quote Link to comment Share on other sites More sharing options...
Brad Posted November 6, 2005 Report Share Posted November 6, 2005 While I may not be up on the most recent changes on bankruptcy law (I'm taking a refresher course next month), individuals can't file for Chapter 7. That means they go out of business. What are you going to do? Kill the person. Chapter 13 is the answer for individuals. While you're in Chapter 11, you continue to conduct business as normal and the Code's automatic stay provisions prevent lawsuits and such until you emerge from bankruptcy. Quote Link to comment Share on other sites More sharing options...
Guest Posted November 7, 2005 Report Share Posted November 7, 2005 While I may not be up on the most recent changes on bankruptcy law (I'm taking a refresher course next month), individuals can't file for Chapter 7. That means they go out of business. What are you going to do? Kill the person. Chapter 13 is the answer for individuals. While you're in Chapter 11, you continue to conduct business as normal and the Code's automatic stay provisions prevent lawsuits and such until you emerge from bankruptcy. ← This is not correct. An individual indeed CAN file for Chapter 7. The changes to the bankruptcy law that went into effect on October 17 made it more difficult to do so, but it could be done, and can still be done. An individual cannot file for Chapter 11 -- that is for businesses only. Quote Link to comment Share on other sites More sharing options...
BeBop Posted November 7, 2005 Report Share Posted November 7, 2005 Thanks for the confirmation. And welcome, Tim Neely. Quote Link to comment Share on other sites More sharing options...
J.A.W. Posted November 8, 2005 Report Share Posted November 8, 2005 Up, just in case someone has additional info. Quote Link to comment Share on other sites More sharing options...
Daniel A Posted December 6, 2005 Report Share Posted December 6, 2005 Well? Quote Link to comment Share on other sites More sharing options...
Son-of-a-Weizen Posted December 6, 2005 Report Share Posted December 6, 2005 History...dust....archives. Quote Link to comment Share on other sites More sharing options...
Daniel A Posted December 6, 2005 Report Share Posted December 6, 2005 Still no sign of problems on the Red Trumpet website. One would think that they lost many loyal/potential customers due to the attention their financial problems got at various Internet forums, so if efforts to keep up the business are in fact made they should have made some sort of official statement. Would anyone at all on this forum order from them at this stage? Quote Link to comment Share on other sites More sharing options...
deadcoldfish Posted December 6, 2005 Report Share Posted December 6, 2005 Not until there's some notice on the website stating their current status. Rick had posted in the past on the Hoffman board and so far there's been no post from him addressing the "rumour" of Red Trumpet's problems. One individual did have a VPI turntable on special order through RT for many weeks, called them and only got a message and then call VPI, only to be told that they were not shipping any product to RT. So, IMHO, I'd say RT is gone, unless they respond. Quote Link to comment Share on other sites More sharing options...
Chuck Nessa Posted December 7, 2005 Report Share Posted December 7, 2005 Not until there's some notice on the website stating their current status. Rick had posted in the past on the Hoffman board and so far there's been no post from him addressing the "rumour" of Red Trumpet's problems. One individual did have a VPI turntable on special order through RT for many weeks, called them and only got a message and then call VPI, only to be told that they were not shipping any product to RT. So, IMHO, I'd say RT is gone, unless they respond. Rick used to post here too. Say goodnight Gracie. Quote Link to comment Share on other sites More sharing options...
BFrank Posted March 11, 2006 Report Share Posted March 11, 2006 Defintely seems to be gone now. If you try to go to the website, you end up at MusicDirect. Quote Link to comment Share on other sites More sharing options...
Claude Posted March 11, 2006 Report Share Posted March 11, 2006 The redtrumpet.com domain now belongs to Music Direct. Someone on the Steve Hoffman forum wrote that Music Direct also bought some of the Red Trumpet inventory. Quote Link to comment Share on other sites More sharing options...
J.A.W. Posted March 11, 2006 Report Share Posted March 11, 2006 The redtrumpet.com domain now belongs to Music Direct. Someone on the Steve Hoffman forum wrote that Music Direct also bought some of the Red Trumpet inventory. Here and here. Quote Link to comment Share on other sites More sharing options...
jazzmessenger Posted March 12, 2006 Report Share Posted March 12, 2006 That's a sad news. I liked that store. I was buying only sale items, so I wasn't helping their business very much. I wonder what happens to a credit (only a few bucks) in my account. Quote Link to comment Share on other sites More sharing options...
cool_blue Posted May 11, 2006 Report Share Posted May 11, 2006 Rick was a cool guy, but some his sales guys at the end were terrible and they gave me a hassle for bad Classic lp return last year. I hope this didnt lead to his fate. Quote Link to comment Share on other sites More sharing options...
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