GoLite GoesBankrupt

Nick

-
.
Joined
Aug 9, 2007
Messages
12,949
I always wondered how they made any money off all those retail shops.

http://www.snewsnet.com/news/golite-files-for-chapter-11-reorganization-bankruptcy/

One of the industry’s frontier ultralight brands has filed for Chapter 11 bankruptcy with intentions to reorganize the company.

Boulder, Colo.-based GoLite, founded by Demetri and Kim Coupounas, wants to reorganize between $1 million and $10 million in debt with its 50-99 creditors according to court documents filed with U.S. Bankruptcy Court in Colorado.

The filing lists numerous Hong Kong-based suppliers and manufacturers as the company’s largest unpaid bills, including $1.34 million to A Garment (HK) Limited, $484,549 to Jasper Outdoor Products and $457,670 to Hanoman International. Other debts mostly include the company’s store leases, totaling about $1 million.

GoLite has closed eight of its 14 stores as part of the reorganization — two each in Colorado and Utah and one each in Arizona, California, Idaho and Oregon. Six of its stores remain open in Colorado.


Keep reading here: http://www.snewsnet.com/news/golite-files-for-chapter-11-reorganization-bankruptcy/
 
I liked a lot of their stuff, but thought they were expanding far to quickly. I wish they would have stuck with the few things they did well, and let others sell them. I hate to see any company do poorly, hopefully they can reorganize and it work out.
 
While GoLite isn't my go to brand, I do like a lot of their products. I hope they can pull through and reorganize successfully. I would hate to see a light weight gear maker go under.
 
Spoken like someone who is guilty of watching way too many episodes of Shark Tank... Could part of it be that there's nothing proprietary about making stuff that is light. I mean, any company can do that right?


Sent from my iPhone using Tapatalk
 
Last edited:
I'm sure it's different with the retail stores, but there have been numerous times when I have strongly considered buying a GoLite product, only to find out it was out of stock through their website. That just isn't a good way to make sales.
 
it's sad to see any gear company go under, especially well-priced gear. They have some great products for the price. I still think their JAM packs are one of the best bangs for the buck.
 
Spoken like someone who is guilty of watching way too many episodes of Shark Tank... Could part of it be that there's nothing proprietary about making stuff that is light. I mean, any company can do that right?

I've actually never seen Shark Tank and everything I know about it, I learned from Tosh.0. You are right about making light weight gear. I'm sure its relatively easy as there are many DIY'ers out there making similar gear. What I appreciate about GoLite is that they were pushing lighter gear into the main stream and everyone benefits from that. I just gear to keep getting better, lighter, and more durable from any company.
 
It is a shame to see a business go under. Growing too fast was probably their down fall, much like many other companies. I never bought their gear primarily because the price point was always just out of reach. Many other companies started making things lighter, just not ultralight. Then brands like REI that have made huge strides in the past decade to make good, reasonably priced gear, makes it hard for a niche brand to keep traction, even harder when they grow too fast.
I agree though, they pushed light to the mainstream making it more available to all.

RIP - Golite
 
Bankruptcy does not mean gone or out of business. If you like them, stick with them.
 
Similar threads
Thread starter Title Forum Replies Date
TrekkingAZLITE GoLite Imogene UL3 for sale Gear 0
genez Fans of GoLite gear Gear 16
slc_dan Gear Review GoLite Malpais Jacket Gear Reviews 7
Nick Gear Review GoLite Poncho Tarp Gear Reviews 13
Nick GoLite Imogene Tent Gear 11
Nurrgle Golite sale Gear 19

Similar threads

Back
Top