Looks Briggs is going to file Charter 11

Just gave their top dogs big bonuses so the writing was on the wall. Now to gouge the pension plans, devalue their stock to zero, sell off real estate to connected investors and lease the properties back, and reissue new stock with huge options to the execs who will be retiring and cashing in yet again. Same old, same old.
 
This is old news. It was a few weeks ago when they mentioned that Briggs owes a few $million in interest payment this month. It doesn't take much for people who follow stock to know their cash on hand is no where close to what they owe.
Paying the high ups confirmed it. Now to wait for the company to file. They already started by shutting down a factory and rearranging production like moving some mower assembly out of Wis to a NY factory. They also said they would sell all the brands(snapper, ferris, murray, etc) by the end of July.
 
Briggs has farmed out so much of the power equipment production now where the only thing they make are the engines. Murray and Snapper by Walmart are MTD products. The Brute edgers and tillers are earthquake, and the push mowers are pulsar.
 
ILENGINE said:
Briggs has farmed out so much of the power equipment production now where the only thing they make are the engines. Murray and Snapper by Walmart are MTD products. The Brute edgers and tillers are earthquake, and the push mowers are pulsar.
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you sure about that? because all the murray and snapper parts i buy now come with a briggs logo on the bag or box
 
Pretty sure briggs got all the parts stock inventory when murray went under. I wonder what the Briggs OEM parts pipeline will look like? We will probably be junking good equipment for want of an odd part that is NLA on new equipment. I wonder if the non dealer one man shops will survive 10 more years. I guess i better learn to read chineese.
 
keakar said:
you sure about that? because all the murray and snapper parts i buy now come with a briggs logo on the bag or box
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Yeah. briggs has been making the whole product(mowers, generators, edgers, etc) the last few years after buying up several brands. They said this month they will sell off the brands and only supplying engines in the future.
 
Hammermechanicman said:
Pretty sure briggs got all the parts stock inventory when murray went under. I wonder what the Briggs OEM parts pipeline will look like? We will probably be junking good equipment for want of an odd part that is NLA on new equipment. I wonder if the non dealer one man shops will survive 10 more years. I guess i better learn to read chineese.
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This must be why a B&S eng wiring harness, for a Vang EFI eng that we ordered to repair a customers mower, is on back order......now I know why it's taking so long to get it....I hate it for our customer.
 
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