Compass Diversified’s Lugano Files for Bankruptcy
CODI’s embattled high-end jewelry subsidiary filed for Chapter 11 bankruptcy protection with the aim of selling the business, shedding some light on the fallout from alleged fraudulent practices by its founder and former CEO that have plagued the company and its parent since the spring. The owner of 5.11, Boa, Primaloft, and Velocity Outdoor was unable to file recent earnings reports on time and faced a plunging share price and rating agency downgrades on the news, leading to a series of forbearance agreements with lenders and amended financial documents back to ... Log in to view full article.