Maclaren bankrupt??

[MamaBear]

http://blog.babygizmo.com/2012/02/ma...es-bankruptcy/

http://daddytypes.com/2012/02/21/wow...iquidation.php


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[WatchingThemGrow]

whoa! For real?

[TwinFoxes]

And it looks like they're liquidating! Not just reorganizing.

Who's going to break it to AnnieW?

[Multimama]

Yeah, what does this mean??

Strollerqueen said they are still a viable UK company. Does this mean they may be leaving the US market?? Does this mean they *are* leaving the US market??

Wow.

[arivecchi]

I gotta say, the baby gizmo post seems pretty clueless. It seems to just be the US distribution arm filing. There is no mention of the parent company in Europe. They could just re-route distribution to another entity.


ETA: distribution seems to have been re-routed already:

http://strollersandprams.com/news-article/347.html

[TwinFoxes]

Maybe it's a way to get out of liability for the lawsuits? Good to know people won't have to buy through UK distributors, and that they've created a new US arm.

[crl]

Originally Posted by TwinFoxes

Maybe it's a way to get out of liability for the lawsuits? Good to know people won't have to buy through UK distributors, and that they've created a new US arm.

That's what it sounds like to me.

Catherine

[arivecchi]

The private equity firm who owned the us arm also did the netto acquisition in 09. My guess is that was the issue couple with the prolonged recession.

[Multimama]

Okay, can anyone explain this to me in terms I can understand??

What does it mean to have "created a new US arm." Will they still be selling strollers in the US?

[MamaBear]

Originally Posted by Multimama

Okay, can anyone explain this to me in terms I can understand??

What does it mean to have "created a new US arm." Will they still be selling strollers in the US?

From the Daddytypes posts (there is another too), and on things I've found online, here's a summary:

- Maclaren USA declared bankruptcy, of the type that means liquidation rather than re-organise: Chapter 7

- declares having next to no assets (something like $15k, off the top of my head)

- sales for Mac USA have dwindled dramatically

- cmost creditors are linked to Mac USA (ie, owe money to themselves)

- product distribution continued under new company, Maclaren NA

- under Chapter 7 bankruptcy, bankrupt companies are freed of,liabilities from pending lawsuits

= Maclaren USA transferred sales to Maclaren NA, showed poor sales, declare bankruptcy to shut down operatiopns, owe money to themselves, *and are no longer liable for fall-out from harms caused before the hinge re-design* whole the product continues to be distributed across North America under 'new' company.


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