Bankruptcy Reorganization Chapter 11

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Bankruptcy Reorganization Chapter 11

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December 30, 2009

The Ski Market Ltd., Inc. Files For Chapter 11

  • Debtor Name:  The Ski Market Ltd., Inc.
  • Year Filed:  2009
  • Jurisdiction:  United States Bankruptcy Court / District of Massachusetts
  • Asset Size:  Less than 10,000,000
  • Case Number:  09-22502
  • Industry:  Entertainment/Recreation, Retail
  • Currently the debtor operates seven retail locations offering skis, snowboards, bicycles and skateboards.  They employ 170 employees.  For the fiscal year ending March 31, 2009, the debtor had gross sales of approximately $22.5 million (net of returns). 

    According to the CEO's affidavit, "Due to, among other things,  the carrying costs of significant retail space through the spring, summer and early fall months, Ski Market has operated at a loss for the past few years.  The downturn in the economy and the negative impact on consumer spending during 2008 and 2009 exacerbated Ski Market's financial problems".

     

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