Freebird, based in Denver, Colorado, will close 14 of its 20 stores as he is looking for a buyer.
A western boot brand closes several stores in all the United States as it is looking for a buyer.
Freebird, based in Denver, ColoradoHe has decided to close 14 of his 20 stores after closing his corporate headquarters and firing employees. Keybank was sued by Keybank in May and is now under the control of the Slamoo Court designated.
Shops’ closures have been common in recent months. JC Penney is Close an important compliance facility in Texas In November, causing 300 work losses. Larger retailer Torrid also plans to close 180 locations By the end of this year.
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Freebird was sued by Keybank for supposed to not pay $ 15.4 million. According to this, it includes $ 6 million debt to a manufacturer in Mexico, which provides 85% of the shoes.
Since then, this supplier has left the business due to the inability of Freebird to pay his bill, according to the Denver Post.
In a presentation on June 9, Doug Charboneau, a broader consultant, wrote that the company was in a “precarious financial situation” and faced “a crisis of serious liquidity”.
Charboneau is currently looking for buyers, confirming that there are two potential buyers in the negotiations. If these offers do not materialize, the company could face settlement and failure.
Freebird boots, which are handmade and range from $ 200 to $ 400, are currently sold, and all online sales and store are final.
The Freebird brand, leaning the hat in the iconic tune of Lynyrd Skynyrd, has three stores in Charleston, South Carolina; Nashville, Tennessee; and Castle Rock, Colorado.
This company based in Denver was launched in 2009 with a mission to make original shoes.
Its website says: “We set out to create an original design to make the boots so unique as you. So once you put a couple of freebird boots, feel that you can conquer anything. You are unique and you should always stand out from the crowd.”
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