As the vice president of business at Premier Logistics, Robin Sauve could tell that the time would be coming when her employer would go under. Although the end was nearing, she saw an opportunity reports the Hartford Business Journal Online.
The bank swooped in and seized the company’s assets in May, leaving Sauve and 30 co-workers without a job.
“In an effort to save myself, the other employees, and my husband, who also worked at Premier, I approached the bank and put pennies on the dollar to purchase the assets,” Sauve said. “They were surprisingly willing to accept it.”
The deal happened quickly. Sauve said the bank seized the nearly 10-year-old company’s assets – including its computer system, client list and other equipment – in the last week of May, and she had them in her hands the first week of June.
She said while there were missteps with the financial management, it seemed foolish not to try to keep the business alive.
Barkley is leasing the space formerly occupied by Premier and, like its predecessor, manages logistics for mass shipments such as advertising and political mailings. The company arranges for time-sensitive material to be delivered from point A to point B within the parameters dictated by the client. Some of Barkley’s biggest clients include a housewares manufacturer and large retailers.
Sauve said she has rebranded Barkley Logistics to distinguish it from Premier. Barkley has put together a letter and sent it to former Premier clients to address their fears about dealing with the company.
“We tell them we are focusing on smaller jobs that we can give our best attention to,” she said. “We have our credentialer go over any potential freight carrier with a fine-tooth comb, to make sure they’re on the up and up.”
“I saw it as an opportunity to build a company up from the ground,” she said. “I’ve never been in that situation. It’s been eye opening, and it has its rewards.”
Photo by Alan Taylor