I see this newer company is hiring. Based in King of Prussia. Same business segments as Unitek. I see on Linkedin people who formerly worked at UNTK are now working at Qualtek. Has this company been started by former UNTK executives. Looks like direct competition. Is Scott Hice working for Qualtek. If so I give UNTK zero chance of survival. This is all speculation on my part.
why would anyone do business with qualtek? Is it the sterling track record of scott hisey? He was the guy in charge during the fraud, right? I don't really see Qualtek being a viable competitor, and Hisey hasn't shown himself to be a real operator, certainly not if you judge by Unitek.
Qualtek is and will be a direct competitor for Unitek. Key positions within Qualtek are being filled by former Unitek personnel. Scott Hisey is involved and this will prove challenging for Unitek in the long run.
I think long-term challenge isn't the biggest problem for UNTK right now. The biggest problem right now is to ensure the survival of UNTK. And the survival can be ensured if the massive debt can be re-fi'd at a lower interest rate to allow for some breathing room.
In the meanwhile, it's inconceivable to me that management would acquire more companies.
Regarding General Fiber - funny Cerberus was behind it.
Interesting stance. I would recommend you google "General Fiber Communications bankruptcy" and read the article in the Philadelphia news journal.
Once you do that, think about what Unitek did when the former regime was here (hint - many acquisitions - almost always by a "shoot, ready, aim" way of going about them).
Then, think about why the former regime is no longer with Unitek.
Based on the previous track record, I'm not so sure Unitek has anything to worry about in the long run. Then again, maybe folks have realized what they've done wrong (2 times in a row), and perhaps the 3rd time will be the charm. Time will tell.