armyjoe
Super Moderator
"Boulder outdoor gear company GoLite, which two weeks ago sought bankruptcy protection to reorganize the business, now is in "liquidation mode," court documents show.
Officials for Coupounas LLC, which does business as GoLite, filed an emergency motion to initiate a comprehensive sale process, which includes going-out-of-business sales and the potential sale of the business, according to filings made with the U.S. Bankruptcy Court in Colorado on Friday and Monday. A hearing to approve the proposed move is scheduled for Nov. 13.
"Debtor has no funding for new inventory and thus is already in a liquidation mode," officials wrote in the filing. "Further, the licensed trademark 'GoLite' is held by Timberland, which has terminated the license."
Officials for Coupounas LLC, which does business as GoLite, filed an emergency motion to initiate a comprehensive sale process, which includes going-out-of-business sales and the potential sale of the business, according to filings made with the U.S. Bankruptcy Court in Colorado on Friday and Monday. A hearing to approve the proposed move is scheduled for Nov. 13.
"Debtor has no funding for new inventory and thus is already in a liquidation mode," officials wrote in the filing. "Further, the licensed trademark 'GoLite' is held by Timberland, which has terminated the license."
