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Orange County Choppers In Foreclosure

Posted in Motorcycle Rides, News, Newsworthy, Promoted by Kurt Ernst | January 25th, 2011 | 10 Responses |

OCC and the POW / MIA tribute bike. Image: OCC

Just in case you needed further proof that the custom chopper craze is officially over, there’s word that Orange County Choppers, the Newburgh, NY custom bike builder is in foreclosure. Word is that the company defaulted on the July 2010 mortgage payment for their new (and over the top) headquarters, but a lawyer for OCC has a different perspective. The non-payment, it seems, was a strategic move to get the lender (GE Commercial Finance) to renegotiate the terms of the loan. When the new facility was built in 2007, it was valued at some $12 million; today, the property’s value has fallen to about $7.5 million.

The company has multiple loans with GE Commercial Finance, and their monthly nut for all loans is over $110,000. In the best of economic times, making that kind of payment would have been a stretch, but today that hardly seems possible. I’ve never been a fan of the prime time soap opera, and I’ve been critical of the rolling sculpture turned out by the Teutels on more than one occasion, but I wish them the best and hope they find a way to keep the doors open. Love them or hate them, OCC was the best thing to come along for Newburgh’s economy in a long, long time.

Source: Surroundings Me

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10 Responses

  1. Kenneth Turner says:

    I hope that they will never close their doors because they build the best bikes,as far as I am concerned in the these United States.Even though they do some skecthy things every once in a while,you never hear that something evee went wrong one any of thier bikes.
    I am quite sure if that is is all they are behind, I hope Senior would sell one of those bikes he have on display in thier store,its a small price to pay to stay in the game.

    • Redyot says:

      Obviously, you never saw one of their bikes up close. They are crap. The welds are sloppy and they are not built well.

  2. JG says:

    Good Ridance. Program sucked. Same garbage every week.

  3. James says:

    I agree with what JG said

  4. eddie_357 says:

    give’em enough rope!

  5. Monty says:

    The Staged for TV, LOVE HATE YELLING MATCH, is purely East Coast TV! when the voices raise, the sound goes down! I can hear then from my porch, here in Dumaguete, Philippines! A nice following here, but we all agree, MORE BUILDING AND LESS YELLING! Nice Bikes that the locals have never seen B/4! Lots of ooooss & aaaahhhs!

  6. BigRuss says:

    they build cookie cutter bikes, even their “custom” bikes follow a pattern… the only way OCC is going to stay above water is with Paul Sr’s other son who runs Orange County Iron Works, but you cant build enough iron fences to make up that much money…

    • Redyot says:

      Absolutely the truth. If you look at the builds, they start with a stock frame-mount the engine-mount the tranny-use a lot of stock fenders-then Rick makes a tank. What the heck is custom about that?

  7. WILLIAM ZIRKEL says:

    I WISH SOMEBODY WOULD PUNCH PAUL SR IN THE KISSER. I THINK HE IS A BIG AXX HOLE.

    • Kurt Ernst says:

      A friend used to work out in the same gym as Paul Sr.. She tells me he got bulked up real, which may explain some of his anger management issues.