Quote:
Originally Posted by BigMo
I know statue businesses have gone bust before, but is this the biggest fall of a company in this industry? I also feel they mislead us for months with all these preorders that they probably never planned to release.
|
I am not defending them at all.
Look at all the cool stuff Chronicle Collectibles developed and put out over the years.
No one plans for this to happen, but these type of business people, start robbing peter to pay Paul to support their extravagant lifestyles they start living Lifestyle of the Rich and Famous lives, from a little success.
It starts to be a vicious cycle, getting money from project/presale/etc. and funneling it into something other project/item or to support the lifestyle, living way to high on the hog.
I have seen this with residential home builders multiples times. Its easy money flowing in, but all it takes is one bad sub contractor or covid manufacturing delays and delivery's to bring it crumbling down.
Chronicle, I believe did try to save it, who wouldn't as it was their cash cow, but when you have robbed Peter to pay Paul, long enough, the debt is just to high, plus the non communication, no social media presence and letter from attorney, cancelling pre-orders with no refunds, those are all signs its is probably all over.
At-lease Sideshow and Prime 1 only ask for small non-refundable down payment on pre-orders, where Chronicle required full payment on pre-orders, which makes you wonder if it was just a money grab, to raise as much income, to try and save the company, or fill their pockets, knowing the company was going down, never intending to produce or deliver the pre-order products.
I think the key thing I have learned, is a lot of these guys are really good at making statues and props, but they are not really professional business men. Thus what happened to Chronicle.
UN-fortunately they had be very successful up to this year and no one had any reason to doubt the pre-order legitimacy, until delivery dates started to change, letter posted by law firm, orders cancelled with no refunds.
Lesson learned, just dont pay full price for a pre-order ever again. They are just playing on your weakness that you might miss a chance to get item before it doubles in price on after market.
If those pre-order statues, end up on re-sale sites, then you know they were in production and if they dont, you know they were never even planned to build and it was all a scam.
