My management team and I have left no stone unturned in an effort to avoid this, Mr Fuller said in his statement.
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I am enormously regretful and sad that it has got to this point. Even as late as yesterday [ January 16] it looked like there was an option for avoiding this action but events conspired against us and left us with no option at all.
Mr Fuller pointed to 2008, when the global financial crisis hit, that lead to the companys eventual downfall this year.
He said he sold a portion of SKINS in the midst of the midst of the GFC to a private equity firm and added he made a lousy deal.
And in a bid to get out of that arrangement once the crisis ended, the company borrowed heavily to buy out the private equity shareholder.
To my enorm…
Read the full article at: https://www.smh.com.au/business/companies/sportswear-manufacturer-skins-applies-for-bankruptcy-in-swiss-court-20190121-p50smt.html