Tectron still alive with a new owner

Despite rumors that Tectron is no more following the Chapter 7 bankruptcy filing of its parent company, Stockton, Calif.-based, Blue Magic Products, Inc., the company soldiers on, this time with a new owner, Boyd Specialty Sleep of Maryland, Mo. Tectron produces fabric and leather care and cleaning products sold into the outdoor specialty market.
Author:
Publish date:

Despite rumors that Tectron is no more following the Chapter 7 bankruptcy filing of its parent company, Stockton, Calif.-based, Blue Magic Products, Inc., the company soldiers on, this time with a new owner, Boyd Specialty Sleep of Maryland, Mo. Tectron produces fabric and leather care and cleaning products sold into the outdoor specialty market.

Boyd purchased the assets and security interests (other than accounts receivables) of Blue Magic on August 29.

Aware that because of Blue Magic's troubles, orders for Tectron products had not been shipped for some time, Boyd's president, Dennis Boyd, sent a Sept. 2 letter to dealers promising to make "our best efforts in the coming weeks to begin shipping you the product(s) that you need without any unnecessary delay."

The only glitch in the entire process for retailers -- other than receiving promised orders late, of course -- is that retailers awaiting orders have to resubmit any current or pending purchase orders that have not been filled so that they can be entered into Boyd's company system.

Blue Magic began experiencing financial difficulties last year, and filed for Chapter 11 voluntary bankruptcy protection on June 11, 2003. The Claims Register report on file with U.S. District Bankruptcy Court, 9th Circuit, Modesto, Calif., is a long one with over $317,000 in claims.

According to the court documents, in July, Blue Magic was forced into Chapter 7 by the company's bank, which called in its note.

Boyd representatives told SNEWS that the company fully expects to be in full production with product and fulfilling new orders by mid-October. Questions should be directed to Jason Ross at 314-997-5222, ext. 208.

Related

ibex

New owners for Ibex

After a tumultuous year filled with many question marks, there finally seems to be a path forward for Vermont-based Ibex.Flour Fund, a New York-based group of investors, announced today that it has acquired the intellectual property and remaining assets of Ibex. Flour Fund is led ...read more

Bula owner bails out Merkley

Filmar Corp., a Montreal, Canada-based, company and owner of the Bula brand, agreed to acquire the assets of Merkley Headgear after being named the winning bid by trustee Deloitte & Touche on April 22. As we reported in our April 6 Outdoor: Did You Hear?..., Merkley Headgear was ...read more

Backwoods sold

New owner for Backwoods

A newly formed company, Backwoods 2.0 LLC, takes over the struggling retail chain. Jennifer Mull will remain on as a consultant. Yesterday Jennifer Mull signed a deal to sell Backwoods, the company that was founded by her father in 1973. Mull has been at the helm of Backwoods ...read more

Will Moonstone Soon Have A New Owner?

Imagine our surprise several weeks ago with the SNEWS® phone rang and on the other end is a gentleman querying us about Moonstone's and Roffe's value and industry reputation. Seems that Amerex Group Inc., parent company of The Gerry Group (Gerry, Roffe, Demetre, Mambosok, ...read more