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- Aug 9, 2007
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- 12,955
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/
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/