Active-Sports Company Files Chapter 7 Bankruptcy

Written by CFB Blogger. Posted in Blog

Pacific Vector Holdings Inc., headquartered in Carlsbad, California, but doing business in both the U.S. and Canada, has recently declared Chapter 7 bankruptcy. According to an account on www.marketwatch.com, Pacific Vector, an upscale action-spots retail and consumer brands company, “announced that as a result of its financial losses, the defaults by certain lenders and its inability to obtain appropriate financing as previously announced, their three subsidiaries: Ryderz Compound Inc., Reno Wilson Inc. (operating as Gatorz), and PVH DNA Inc.” was compelled to file bankruptcy. The Chapter 7 bankruptcy will be under the auspices of the Bankruptcy and Insolvency Act of Canada. The company’s shares had previously been suspended on the TSX Venture Exchange as a result of the Cease Trade Order being issued by the Ontario Securities Commission due to failure to file certain continuous disclosure documents reports www.marketwatch.com. From a news story in Bloomberg Businessweek, Pacific Vector “designs, develops, manufactures, and distributes eyewear, such as sunglasses under the Gatorz brand, as well as ballistic impact-proof lenses for motorcycling, motorsports, skydiving, military, off-road, hunting and fishing, action sports, and youth lifestyle markets. The company is also involved in the retail sale of action sports and casual youth lifestyle apparel and accessories, including t-shirts, jackets, sweatshirts, jeans, walk shorts, board shorts, eyewear, bags, and watches, as well as motocross, scooter, and BMX accessories, toys and gifts. The company operates 35 retail stores under the XRyderz and No Fear brands in the United States, as well as e-commerce business. The company was formerly known as Gatorz Inc. and changed its name to Pacific Vector Holdings Inc. in June 2013.” All of the directors and officers of Pacific Vector Holdings have reportedly resigned. When considering filing Chapter 7 or Chapter 13 bankruptcy, it is imperative that you have the best legal advice and representation available. The bankruptcy attorneys at Client First Bankruptcy are familiar with all aspects of personal bankruptcy. If you are tired of seeing unpaid credit bills and late car payment notices piling up in your home and if you are afraid to answer the phone dreading that it is another debt collection agency harassing you, call the experienced bankruptcy lawyers at Client First Bankruptcy. Call us Monday thru Friday from 8:30 a.m-6:00 p.m. Central Time toll-free at 800-383-6004. For vital information on filing your personal bankruptcy any time, please log onto www.clientfirstbankruptcy.com for help in a user-friendly format.