GoLite Out of Business?

[xziang]

Dumb question, but does anyone know if they had a store in the 'outlet' stores in silverthorne?

 

[SHTF]

I know they had one in Castle Rock. Not sure about Silverthorne though.

 

[5MilesBack]

It never struck me as okay that a company (people) could walk away from unsecured debtors and go resurrect their enterprise. I can assure you that someone is left holding an empty bag and taking a hard hit as a result of this company's behavior. Unsecured debtors get a shoulder shrug and are expected to either eat the loss or take their chances in a lawsuit. Meanwhile, a fresh coat of paint goes over the old and ugly. I'm not an idealist, but if GoLite / Timberland / Couponas / GeoLeo LLC walk from over $5M in debt I think it sends the wrong message to give them any acceptance or support in the marketplace. Too many people have short memories and selective blindness.

I agree. The debt should follow the individual or partners of the company, not just die when they move on to another "name". But this is the environment we live in today. And if nobody enforces that.....well, who cares.....right?

 

[cody covey]

Dumb question, but does anyone know if they had a store in the 'outlet' stores in silverthorne?

Yes they did.

 

[mmw194287]

It's not that rules aren't being enforced--this is what the rules are designed to do. The whole advantage of a limited liability corporation is that the business is its own legal entity with its own property, debts, ability to sue and be sued, etc. independent of the individual investors, employees, etc. It's not any failing of modern society that allows someone to do this, it's the foundation of corporate capitalism.