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Thread: Locate firm files bankruptcy?

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    Default Locate firm files bankruptcy?

    I heard from a good source that OCC, One Call Concepts, has filed for bankruptcy and it would be good to confirm this from other sources.

    Now OCC is in two major groups; the one call centers and their locate company. Likely they would have to file separate bankruptcy's if both divisions were in trouble.

    Even if the locate division did file they would not necessarily cease operations but reorganize under the bankruptcy act.

    Still they could take this time to close or sell off less profitable offices.

    Such a firm is also now vulnerable to being bought out by firms like Dycom (Utiliquest, STS) and USIC which would buy poor performing offices just to get the contracts.

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    Default Re: Locate firm files bankruptcy?

    OCC was just awarded a 3 year contract for the one call center after the last operator gave a one week notice and shut its doors. They were supposed to take over in feb. Nice call I.O.C

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    Default Re: Locate firm files bankruptcy?

    Quote Originally Posted by orangeboots View Post
    OCC was just awarded a 3 year contract for the one call center after the last operator gave a one week notice and shut its doors. They were supposed to take over in feb. Nice call I.O.C
    So then the one call centers are in trouble. How about the locate division?

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    Default Re: Locate firm files bankruptcy?

    One Call Centers have to be in trouble due to the economy and where they are geographically based. With tickets count down to record lows due to no construction, no home sale, no homeowner improvements (pools, garages, outbuildings), unemployment, etc., their core source of income is wholly dependant on ticket volume/ticket pricing to members in order to maintain adequate cash flow and remain solvent. However, since they are considered a "critical service provider" much like the locating industry is, they can enter bankrupcy reorganization with creditors, keeping their doors open, and continuing to provide uninterrupted services.

    I may be mistaken, but if the whole company is operating under one corporate structure, even if a single division is in trouble you cannot carve our a "portion" of the company that may be the culprit in order to enter into bankrupcy. If each division is operating as a single independantly formed and operating unit, and only comes under the corporate umbrella, then it can carve out the individual division and protect the corporate structure as a whole.
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