Tanked Tank

[Rebel]

Well, a post was made elsewhere about this, I went to the Tank Sports homepage and found the following posted;

We regrettably inform you that Tank Sports Inc has closed its doors. We can no longer survive in this economy with the assets that we have on hand. We can no longer afford to keep our doors open. The year 2009 has been a really brutal one. Towards the second half of 2008, the economy has already given us a preview of what’s about to come for 2009. But under no circumstance did we expect it to be this bad. Folks, do not believe what you hear on TV. The economy has _not_ recovered. The entire staff of Tank Sports Inc has tried and held together till the last day. But unfortunately, we are unable to continue any further. We are all greatly saddened by the unavoidable decision. Please
understand that the final decision was hard and difficult.

More information will be updated to this page when they become available. Currently all services and communication are halted as we wait for further instructions from the US Government. Please know that While we are completing the long process, we have already turned in all our documents. At this current point. We are unable to check, ship, sell or send out any inventory or supplies.

Quoted from the Press release
"Dec 31, 2009
Pink OTC Markets News Service

El Monte, CA —

Los Angeles, Dec 31, 2009 /Pink Sheet News Wire – First Call/ -- Tank Sports, Inc

(OTC Pink Sheet: TNSP – News)

Due to the fact that the domestic motorcycle market has been in down turn cycle for the past 13 months, the sales dropped over 50%. The company’s assets cannot no longer meet the company’s liabilities and losses.

The company held an emergency board meeting on Dec 14, 2009, during the time the company had multiple lawsuits from creditors for unpaid balances. The board resolved that the company should be liquidated by filing chapter 7 bankruptcy protection with a federal bankruptcy court.

The company filed chapter 7 bankruptcy with Los Angeles County Bankruptcy Court December 30th 2009."
End quote

Tank Sports Inc
December 31st 2009


Makes you wonder, when a communist company goes out of business what is the world coming to.

[90GTVert]

They need to learn from Vento, who apparently is rolling in dough. You have to practically beg them to process your orders lately. "Please, take my money!" lol

[kz1000st]

Jan 8, 2010 9:51:12 GMT -5 90GTVert said:

They need to learn from Vento, who apparently is rolling in dough. You have to practically beg them to process your orders lately. "Please, take my money!" lol

When you spend all the good years selling junk and treating your customers badly, you'll go under when things go bad. I think, if memory serves the Vento V-Thunder was well received and most of their scooters performed well. When you do a search for Tank all you see is complaints.

[Rebel]

Tank certainly got a lot of bad press. There is a local scooter dealer that used to sell Tanks here, he did have good luck with them, he also gave his customers good service. I have not yet spoken to the local guy since Tank went under, I hope he has a new line of scooters to sell and is doing well.

[kz1000st]

Over at you-know-where, Dave at Absolutely Scooters defended them with zeal. He said his dealings with the company were forthright and they stood behind their product. He said they suffered from quick buck artists selling their scooters who didn't set them up properly and didn't know how to fix them when they broke. It seems to me a company should have an initial process to prevent that from happening.

[Rebel]

ya, in spite of the guys that have favorite brands like flyscooters for instance, Fly makes great scooters but I really think that proper PDI makes all the difference in the world. then there are some exceptions, like SunL that had a lot of complaints, frames breaking apart, you just can not PDI for that without tearing it down to nothing and welding all the joints yourself. Tanks main issues for the first couple years was supply of parts, after that I think they were on par with most other Chinese scooters.