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Article Date: November 2017
Word Count: 307

Niner Inc. Files for Bankruptcy


The CO-based bike maker filed for Chapter 11 protection with a plan in place to sell the company to Columbia Basin Partners, a local investment group. The plan listed $9,844,955 in assets against $7,980,990 in liabilities which included $5,829,980 in secured debt and the balance in non-priority unsecured claims totaling $2,151,010. The filing said it expected there to be a distribution to unsecured creditors but didn’t go beyond that. Among the major unsecured claims are $316,576 to SRAM, $273,576 to Very Impressive in Vietnam, $267,406 to Willing Industry in Taiwan, $105,477 to Astro Engineering and $77,507 to Fox Factory. Among ... Log in to view full article.

 


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