Outdoor TV Supplier Pantel Allegedly Bankrupt

Glad I didn’t have any spec’d into projects!

Kinda sad really.  But you would at least think the guy would “man up” and post something on the website rather than just hiding.  At the very least let the people who supported the company know that you’re going into the witness protection program.

If you read this Mr. Pantel, you’re not the first company to file BK, and you certainly won’t be the last.  It’s not the end of the world, stop wallowing around in your own self pity and at least post a short explanation to the dealers that bought your product.  They deserve better than they’re getting from you. 

There are only so many bridges in the world sir, you don’t want to burn all of them.

There is a possibility that he assigned the company to process an Assignment for the Benefit of Creditors (commonly known as an ABC).  This is a commonly used way to wind up a business outside of the court system.  The failed company only obligated to notify creditors about the assignment.  The entire process transacts outside the court system and there is no public filing.  It virtually performs the same function as a bankruptcy but is typically more efficient. The funds that would / could be available to pay creditors are not bled down to nothing from the lawyers that are assigned to a bankruptcy case.  That could be why there is no public information available.  Either way you hate to see someone lose their company, however I agree that he owes some type of statement at the very least.

What - no market for a $4,000 46” TV anymore???

jeffzek—indeed, there are many ways to close a business without declaring bankruptcy, and whatever happened to Pantel, it’s unfortunate.

Joe Pantel has been an active part of the CE Pro community, so I’m surprised that he hasn’t made a statement or responded to countless dealer inquiries.

Dear All,

I agree I should step up and make a statement.

Pantel has undergone a strategic review of its merchandise assortment. This was part of our continued effort to turn around the business. Given the current challenging economic environment, the Company also found it necessary to evaluate its overall viability.

As an outcome, Pantel has announced it is closing for business. 

As we are fully aware, this decision not only impacts our associates but has an effect on your business as well.

I would like to thank you for your past services and purchases.

Sincerely,

Joe Pantel

Very sorry to hear that, Joe. Best of luck in the future.

Thank You Julie. This is a tough time for Pantel.

This is tough time for all involved including all the integrators and dealers who supported us over the past few years.

Joe, you should be commended for stepping up to the plate and making a statement. 

I wish you all the best in your future endeavors.

Been there ...

I guess you can remove the word “Alleged” from the title….

Hey Joe, it’s sad that the company could not make it and to those of us who have sold and installed your whole line it is a loss for sure.  We used your product and it worked the best in out cold northern temp.  The only thing I ask is will you please get a hold of your rep base and tell them personaly whats going on.  The local rep is a freind of mine and has not heard word boo from you and is very frustrated with the lack of commuincation.  The money that is out there due to them for selling your products over the years is something that can be worked out, but I’m telling you that a phone call will go a long long way.

Sorry, one more thing.  Put something on your web page to let the world know.  We have been fighting to explain to customers that we have TVs spect in their jobs.  We as installers that have to explain why we are having to change them to the other company when they can still place orders on your web page, well lets just say it sucks.

John, I have notified every distributor of what is going on with Pantel. I also have tried to contact everyone possible what is going on. As far as the website please refresh the page there is no more website as it has been taken down.

Again John I an sincerely sorry for any of you affected by this.