What's happening with E. Hille Company?
- Thread starter franklin
- Start date
jdaddy
Active member
They had a fire and have relocated. Check the "Announcements" section.
franklin
Active member
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- Feb 10, 2009
- Messages
- 4,660
Are they up and operating at their new location now? WEB site looks untouched since late May? Went through Williamsport last week and thought about stopping by but didn't know if they were open anymore plus suspected they had moved. Might swing by next week if they are open.
jdaddy
Active member
They are in that Genetti hotel. Ground floor, exterior street entrance. I don't know how far they have come in getting back to normal. When I was there it was just stuff piled everywhere. Not sure what headway they have made as it is quite a mess.
Edit: See ehille viewing thread now. Better info to come.
The company inventory and equipment has been moved to a storage facility. We are waiting for the insurance company and their agents to evaluate the contents. The business is on hold, while the underwriter and the insurance company's parent company and their agents, auditors, and legal advisors, review our loss, claim and expenses since the fire. In spite of on site visits by an agent, a significant part of our claim has been refused pending more documentation and proof.
We recently realized, as small business owners in Pa., we probably would not have a chance to argue even a small portion of our claim against the insurance company.
We are being audited and challenged by the IRS, Pa Dept of Rev., Unemployment Bureau, Income Rev. and other agencies I have never heard of.
The business and store is closed.
A local law firm and their agents are representing us.
Cindi and I would like to thank our friends, customers and business partners for their support. I will post updates.
Ken
We recently realized, as small business owners in Pa., we probably would not have a chance to argue even a small portion of our claim against the insurance company.
We are being audited and challenged by the IRS, Pa Dept of Rev., Unemployment Bureau, Income Rev. and other agencies I have never heard of.
The business and store is closed.
A local law firm and their agents are representing us.
Cindi and I would like to thank our friends, customers and business partners for their support. I will post updates.
Ken
nymphingmaniac
Well-known member
good luck Ken. I was sorry to hear about the fire and more so now knowing all the powers are making life tough on you.
Letort
Active member
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- Dec 14, 2008
- Messages
- 340
@E. Hille:
If your claim is valid and can be substantiated, by all means have your accountant & atty document the loss. You are owed what the insurance contract stipulates - no more, no less. Of course a small business can come back from a fire in PA, if it was insured properly.
Your statement that you have governmental agencies investigating after the loss, suggest to me at least, that there are other issues involved outside of insurance coverage. Hope I interpreted you comments incorrectly and best luck getting back on track.
Edit:
As I thought about it, based on the post from the owner, the following comes to mind. Business interruption income is provided through insurance coverage for the expenses sustained by a business when it is closed from a fire (think payroll, etc, to keep things "going" until they are able to get back open).
The business will present this claim to the insurance carrier, who will then test it against tax returns, etc. for substantiation. Hypothetical situation - the business has actual sales of $10 million, expenses of $9 million and $1 million in profit and presents a claim for those numbers. But if the tax return shows $5 million in sales, 4.5MM in expenses and .5K of profit, there is a red flag to the insurance company. Best case scenario is that the insured and carrier can reconcile the two numbers and agree on a compromise. Worst case is that the insured has either committed insurance fraud, by presenting the higher claim or tax fraud, by understating their taxable income. This situation, of course, is not good.
I am certainly not suggesting that this is remotely similar to what Hille's is facing. Just saying that sometimes this is the outcome.
If your claim is valid and can be substantiated, by all means have your accountant & atty document the loss. You are owed what the insurance contract stipulates - no more, no less. Of course a small business can come back from a fire in PA, if it was insured properly.
Your statement that you have governmental agencies investigating after the loss, suggest to me at least, that there are other issues involved outside of insurance coverage. Hope I interpreted you comments incorrectly and best luck getting back on track.
Edit:
As I thought about it, based on the post from the owner, the following comes to mind. Business interruption income is provided through insurance coverage for the expenses sustained by a business when it is closed from a fire (think payroll, etc, to keep things "going" until they are able to get back open).
The business will present this claim to the insurance carrier, who will then test it against tax returns, etc. for substantiation. Hypothetical situation - the business has actual sales of $10 million, expenses of $9 million and $1 million in profit and presents a claim for those numbers. But if the tax return shows $5 million in sales, 4.5MM in expenses and .5K of profit, there is a red flag to the insurance company. Best case scenario is that the insured and carrier can reconcile the two numbers and agree on a compromise. Worst case is that the insured has either committed insurance fraud, by presenting the higher claim or tax fraud, by understating their taxable income. This situation, of course, is not good.
I am certainly not suggesting that this is remotely similar to what Hille's is facing. Just saying that sometimes this is the outcome.
Our employee's filed uc, we filed, out of business relief.
We changed our federal filing schedule.
Pa. rev. wants proof of no income.
Dept. of rev wants to verify no income from other states. etc.
All normal, given the cricumstances, we have been told.
Not worried - Just a matter of completing forms and answering inquires. The account is responding to all requests about the business.
We changed our federal filing schedule.
Pa. rev. wants proof of no income.
Dept. of rev wants to verify no income from other states. etc.
All normal, given the cricumstances, we have been told.
Not worried - Just a matter of completing forms and answering inquires. The account is responding to all requests about the business.
