GoLite going out of business

Hmm. I live right by one of the stores. Thought they had a good niche. Wonder what happened. I will have to keep an eye on sales.
 
Interesting and very unfortunate.

I have a number of their products and have never been disappointed. Including customer service!
 
Their website doesn't mention it. Not that I expexcted it to be on the front page or anything.

I expect there will be quite a few deals on golite stuff by the end of the year.
 
I have been emailing someone with GoLite regarding the repair on my SL5. I shot off an email asking about future warranty service and I will pass along any info they may be able to provide.
 
That's awful. I love my SL2. I'd love one of their ponchos. Drhorsepower if you stock up on a whole bunch and I don't get one....let me buy one off of you, ha.
 
Here is the response that I got:

Brad
GoLite has filed Chapter 11 in order to restructure debt to support a healthy, profitable, growing company best able to serve our customers with great lightweight outdoor apparel and equipment for many years to come. As long as we are in business we will continue to honor our warranty.
Click to expand...
 
they filed chapter 11, but the article said they have started an auction with the backstop bidder being Hilco, which is a liquidation house. If they don't get a higher bidder, the business will liquidate through Hilco. In any situation where you have a liquidation, your warranty is toast because there would be no more operating business so support the warranty. the only hope here is another bidder steps up in the next two weeks who is willing to continue operating the business as a going concern.
 
... continue operating the business as a going concern.
Click to expand...
Yeah, and the problem I saw in the article was that they don't own their trademark and Timberland said that GoLite can't use it after March 2015. If they don't have their trademark, they won't be able to sell equipment under the name GoLite. So who would want to buy some debt and some inventory that they won't be able to market as GoLite? The only thing that's of value is the designs portfolio, I guess. I'm not much of a retail business guy, but it don't look good.

It does suck, because I really wanted an SL-5 this season.
 
Damn, looks like for about a tenth of annual sales the business could be bought. Given few months notice that would have been an awesome business to buy. Shut down the store front's go to only online sales, ensure inventory is maintained and you could make a pretty good go of this business. Shame it will just fade away. From what I saw they had stock outs all the time, sales would probably have been double if that were not the case.
 
Fly Rodder said:
Yeah, and the problem I saw in the article was that they don't own their trademark and Timberland said that GoLite can't use it after March 2015. If they don't have their trademark, they won't be able to sell equipment under the name GoLite. So who would want to buy some debt and some inventory that they won't be able to market as GoLite? The only thing that's of value is the designs portfolio, I guess. I'm not much of a retail business guy, but it don't look good.

It does suck, because I really wanted an SL-5 this season.
Click to expand...
Time for a re-branding party! :)
 
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