Tiffany Montgomery has been all over the Active bankruptcy coverage on Shop-eat-surf.com. Today, she drove to the Federal Courthouse in Riverside and picked up a copy of the bankruptcy filings and is kicking down all the details.
Also of note is the list of Active’s 20 largest unsecured creditors, which reads like a Who’s Who of action sports brands. Active owes a total of $8.8 million to its 20 largest unsecured creditors. . . .Interestingly, only one brand is on the list of secured creditors – the Burton Corporation. Secured creditors get payment priority in a bankruptcy.
Montgomery also notes that Active is cutting their contracts with the following team members: “Andrew Reynolds, Kenny Anderson, Billy Marks, Erik Ellington, Daewong Song and Jim Greco.
Looks like P-Rod and some others have escaped the axe of the time being. For more details (including the list of creditors with amounts owed) follow the jump.
[Link: Shop-eat-surf.com]
