By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Edison, N.J. – Abe’s of Maine, the 33-year-old direct CE seller, has filed for Chapter 11 bankruptcy protection.
According to a bankruptcy court filing on Nov. 5, the company sought Chapter 11 protection to reduce debt, improve liquidity, and find a backer to bolster its “long-term growth prospects and operating potential.”
Total fiscal year sales through June 30 were about $87 million, down from $110 million in 2011 and $115 million in 2010.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.