GoLite Bankruptcy

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mjirving
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GoLite Bankruptcy

Post by mjirving » October 18th, 2014, 1:04 pm

I just saw that GoLite is in Chapter 11 bankruptcy and has closed all stores outside Colorado (including Woodburn and Bridgeport).

That would explain why people are having a tough time getting ChromeDome umbrellas.

That's too bad as I liked those stores and their "direct" prices. Can't say I'm too surprised as their efforts to buck the system by selling direct was probably a tough road.

Mike

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Waffle Stomper
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Re: GoLite Bankruptcy

Post by Waffle Stomper » October 19th, 2014, 10:13 am

That explains why they closed their Woodburn store. I was hoping for one of their ponchos. :(
"When we try to pick out anything by itself, we find it hitched to everything else in the Universe." - John Muir

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Charley
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Re: GoLite Bankruptcy

Post by Charley » October 19th, 2014, 6:15 pm

BUMMER! I love the poncho tarp. Their backpacks are also a great middle of the road lightweight option.
Believe it or not, I barely ever ride a mountain bike.

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IslandCougGirl
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Location: Tri-Cities, Wa

Re: GoLite Bankruptcy

Post by IslandCougGirl » October 19th, 2014, 6:18 pm

I picked up a UL down jacket last year that I love and a nice top quilt. Hope they can figure things out and stay in business.

Lumpy
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Re: GoLite Bankruptcy

Post by Lumpy » October 19th, 2014, 7:27 pm

Don't panic, folks.
Chapter 11 is a chapter of Title 11 of the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities.[1] In contrast, Chapter 7 governs the process of a liquidation bankruptcy (although liquidation can go under this chapter), while Chapter 13 provides a reorganization process for the majority of private individuals.
https://en.wikipedia.org/wiki/Chapter_1 ... tates_Code
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mjirving
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Re: GoLite Bankruptcy

Post by mjirving » October 19th, 2014, 7:39 pm

Yeah I get chapter 11, but that won't be bringing back the Woodburn or Bridgeport store. It was so nice to have those local.

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xrp
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Re: GoLite Bankruptcy

Post by xrp » October 21st, 2014, 7:38 pm

Image

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