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Poblocki Sign Company Shut Down?

DarkerKat

design & such
Anyone have the scoop on what's going on with Poblocki? Have gotten quite a few last-minute jobs lately from clients who were working with them and then were told out of the blue that they couldn't produce/install the sign package. We work in the same market so they come up on a semi-regular basis. Can't find anything official posted online/in cort filings, but their website went down this week.
 

Adam Vreeke

Knows just enough to get in a lot of trouble..
Weird, it's saying the one here in Milwaukee is closed....

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MikePro

New Member
yeah, all locations in 3-4 states are shut down for good. Original owner is super nice, but he sold to an investment firm a few years back. I don't believe they have much assets to auction at the mke location aside from a boomtruck and real estate.
 

DarkerKat

design & such
Weird, they seemed to do nice work. At least there is a whole bunch of theoretically competent signage talent on the look for new jobs..
 

DL Signs

Never go against the family
Damn... They've been around forever. Used to do a lot with them.

If he did sell out to an investment company, it's not surprising they closed, they just pillage and plunder companies.
 

IceShadowDW

New Member
Former employee here. I was on the shop floor with the rest of the office workers and employees when it was announced.

They were struggling with cash flow for a couple of years. The private equity group that bought them in 2015 kept promising larger infusions to help but there was always some banking crisis or crypto turn down and we only ever got little investments that kept the water without fixing the leak.

The cash flow issues compounded. Vendors required pre-payments. Signs were late from lack of ready materials, so temp signs at our cost were common. We used all materials from stock and started buying for each job which made things more late.

Finally the last thing I'd heard was that they were going to change banks. The bank must have gotten wind, because they used a good week of collections to justify lowering the credit line and seized our funds at the end of March. We were told not to come in to work for three days because they weren't sure if they would make payroll.

The private investment group put in payroll. They tried to work out a deal with the bank, who (rumor was) took in an infusion meant for payroll, then seized that too, then seized the company, and put it in receivership.

The next month was awful. The bank would hardly approve any expenditures. We had to sell scrap aluminum just to have cash for gas for installers' tanks. We were constantly working out joint checks and direct pays with GCs and clients for materials. We were told the bank was looking for buyers. Rumors were the Poblocki family and others were going to put in offers and my understanding was that offers were coming in.

Regardless the bank decided on 5/8 to shut all four branches down and liquidate. A few employees were retained to try and sell signs that were close to finished or awaiting install to the clients, ostensibly to make payroll for the previous weeks. I did get paid for the previous week and three days for the week of the shutdown.

I started there as an entry level office worker 13 years ago and worked my way up to a Senior PM. Company was 92 years old.
 

MikePro

New Member
that's a bummer. I definitely never once assumed they went under from lack of quality work.
Wish our shop & flow was big enough to simply absorb all the employees looking for a new home, because you guys had a lot of talented staff.
 

IceShadowDW

New Member
that's a bummer. I definitely never once assumed they went under from lack of quality work.
Wish our shop & flow was big enough to simply absorb all the employees looking for a new home, because you guys had a lot of talented staff.
I'm mostly worried about the shop staff. Us office workers can find remote work. They can't...
 

DL Signs

Never go against the family
Our company has been around for over 50 years, and our owner was shocked to hear it closed. Said we used to do a lot with Poblocki, never had any issues, then nothing for years (assuming since the acquisition). For all the shop personnel, the Milwaukee- Chicago area is kind of the mid west hub for everything from vendors, to sign manufacturers, and as dense as it is there, a lot of shops. Hopefully they'll all find a new home where they can utilize their talents, and be happy at.

Stories of investment and hedge firms failing company after company is too common. Some just run them into the ground for a quick payday. Others... I don't know if they want to succeed and just spread themselves too thin, shift too many funds to run or buy other companies, or what. We've lost a lot of good ones in every field as people with a bit of resources, and not enough business moxie try to become conglomerates. A community just north of me was a booming mill town since the late 1800's, until a hedge fund group bought the mill. They started selling off assets, along with their customer base almost immediately to cover expenses, and in no time at all it was shuttered. 450+ lost their jobs, and the town became abandoned, just streets with no homes lining them as banks foreclosed, and taxes went up to the highest in the state to maintain it. The biggest problem here is, there was nowhere for that many blue collar factory workers to turn to for work, keep their families fed, and a roof over their head.
 

JBurton

Signtologist
Our company has been around for over 50 years
Ah, such a youngster.
104 this year, covid f***** any party plans we had.
At any rate, this place would tank if I or my old man were out of the picture with no replacement already trained. We could shift gears to brokering and installing, but then I'd cut everyone loose aside from installers, but then who would I pick on all day while they're gone?
Iceshadowdw, if you know of any talented fabricators who are looking to move to a slower paced region, point 'em my way.
 

JBurton

Signtologist
Damn Bro... Impressive! Cheers :toasting:

I'm stuck alone at the shop more than not, all I have to pick on all day are these troublemakers, who end up picking on me more than me picking on them.
Cheers and huzzah all around!
Ought to find a way to attach a harness with a swiffer to them, gotta have them earn their keep somehow.
 
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