Technology retailer, gaming brand forced into Chapter 7 bankruptcy
The company faces a Chapter 7 bankruptcy-style liquidation process.
When a company catches public momentum, it can ride the wave as long as possible.
The problem, is that when that ride ends, the company needs to be prepared for the period when it's not the hot brand.
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That has proven to be a challenge for a lot of companies. Retailers like True Religion flew high, had a moment in the sun, and the crashed hard.
True Religion filed Chapter 11 bankruptcy and was bought by an investment firm giving it a new lease on life.
That's not always the case and many brands don't survive past their time of great prosperity.
There was a time, for example, when Blackberry was a must-have phone for every business leader. That company opened the door for Apple to establish the iPhone with that market by failing to add new features over multiple years.
