Florida Investors Bail Out Active Ride Shop
June 18, 2009 – 10:00 pm PT by MeTags: Active, Bankruptcy, Sports Lifestyles USA —
Who knew that when ACTIVE Ride Shop declared bankruptcy, it wasn’t an early April Fool’s Joke because I love April fool’s. Just like the time when one of my favorite PERFORMING ARTISTS announced on MTV that the band was going to split, I nearly fainted. Luckily he was just playing us with that spunky hair.
As it turns out, Active’s announcement is true. I couldn’t believe it especially since Active has a monopoly on live demos and AUTOGRAPH SIGNINGS. But with these hard economic times, everyone from AIG to the local AUTO MECHANIC down the street has to suffer through the very same struggle.
Luckily for you skaters out in the middle of Butt Egypt with no access to a cool skateshop, a group of Florida investors have purchased Active Ride Shop out of bankruptcy for $5.2 million, according to a story in the Press Enterprise. I find the takeover suspect and I’m really beginning to wonder what these Floridian investors look like. And what kind of makeover will these investors give Active?
A limited liability company called Active Sports Lifestyles USA emerged as the winner among five bidders in a Tuesday auction ordered by the U.S. Bankruptcy Court in Riverside. Attorney Marc Winthrop, who conducted the auction, said the buyers plan to keep all of Active’s operations intact, including its Mira Loma headquarters and warehouse, as well as its 21 Southern California stores.
Zumiez, who had expressed interest in the retail chain, was not even among the final bidders. “The sale is expected to be completed by the end of the month, Winthrop said.
