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Dippin' Dots Files for Chapter 11 Bankruptcy
- ricardobeat 15y agoBad management? They had a (growing) revenue of $27.7m (http://en.wikipedia.org/wiki/Dippin_Dots http://en.wikipedia.org/wiki/Dippin_Dots). Meanwhile, their south-american counterpart is doing fine (and in need of a better design agency): http://www.delidrops.com/global_ing/global.html http://www.delidrops.com/global_ing/global.html
- Hyena 15y agoAccording to the article, they hit liquidity trouble during the financial crisis which caused them to go into technical default. According to the article, they have $20.2 million in assets and $27.7 million in revenues but Regions Bank refused to negotiate on payment. I wonder if this is just the last part of an attempt by Regions to use the default to seize the company at far below its market value.
- ricardobeat 15y agoYeah, it's strange to hear of a bank refusing to renegotiate an amount like this. Maybe they are certain the company will go down either way.
- deleted 15y ago[deleted]