Morris looks in trouble

[Herc]

Files for creditor protection. Sign of things to come???

[Zephyr]

Definitely not the only one.


We supply some parts to another prominent Western Canadian seeder manufacturer and payments have gone from net 30 to 60-90 days...

[bobofthenorth]

https://thestarphoenix.com/news/local-news/morris-industries-seeking-creditor-protection-amid-liquidity-crisis https://thestarphoenix.com/news/local-news/morris-industries-seeking-creditor-protection-amid-liquidity-crisis

[jazz]

So a machine co files for bankruptcy protection? Has to be some service centers and input dealers next, I see crickets in some of these places this fall.

That immediatly makes me wonder what is hiding on a lot of farmers balance sheets. Expensive land still moving.

[AlbertaFarmer5]

That immediatly makes me wonder what is hiding on a lot of farmers balance sheets. Expensive land still moving.

Doesn't the last comment answer the first question?

[grefer]

I thought as much. I had parts ordered in early November. Never came never came so the dealer called to find out why not. Finally got it out of them that Purolator wouldn't pick parts up there anymore because of a payment issue. Wow.

[WiltonRanch]

Thought I read on one of these chat boards a month two ago about this. Heard a story the new drill they released in Australia had a bunch of issues and cost them big time.

[SASKFARMER]

Its the sign of the times.

Balance sheets won't look great on anyone purchasing large volume of equipment and building lots in the yards.

[Robertbarlage]

Thought they just got government money not long ago?

[bucket]

Send it to Ritchie Bros....that's what dealers tell farmers...or they use RBA as a pricing sheet.....maybe there is a correction coming....using seconds to build drills and charging what they do wasn't sustainable with 20 cent lentils even if the commissions say that's a good average price for pulses. ...

[SASKFARMER]

Dealers and RB are changing bucket. Last few sales haven't gone as planned and they now are preaching may as well sell it to a local or good customer at a discount with no warranty than give it to RB.

[bucket]

Dealers and RB are changing bucket. Last few sales haven't gone as planned and they now are preaching may as well sell it to a local or good customer at a discount with no warranty than give it to RB.

They should have realized it sooner...now guys will sell at RBA and buy there as well...
When dealers used RBA they should have fired their salesmen ...

[sumdumguy]

So the family runs the company for decades, I suspect sacrificing family commitments, sweat equity and income at times to keep her humming. Then along come the “paid” management who probably had a textbook education and Poof!

[bucket]

So the family runs the company for decades, I suspect sacrificing family commitments, sweat equity and income at times to keep her humming. Then along come the “paid” management who probably had a textbook education and Poof!

When you put it that way ...it sounds familiar....doesn't it...

Guys that sit in offices... sometimes don't add value.?????

[woodland]

Bummer we were going to pull the Morris tank in shortly to rebuild the meters. Maybe the bourgault will come in first instead. Can’t figure out the economics of $500k+ air drills but I’m glad someone did so I can buy the $50k “experienced” one instead. 😉