- Associated Press - Sunday, September 17, 2017

GREENVILLE, S.C. (AP) - Court documents show a technology products distributor that unexpectedly closed its South Carolina headquarters last month cites more than $106 million in outstanding debts in its bankruptcy filing.

The Greenville News reports the Chapter 11 bankruptcy by Wynit was filed Sept. 8 in Minnesota. The company closed its headquarters in Greenville on Aug. 25.

The Chapter 11 filing generally means a company plans to reorganize and pay creditors over time. Chief Operating Officer Pete Richichi filed the paperwork, which attributes the company’s downturn to slower than expected 2016 holiday sales.


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Wynit’s closure immediately left 140 people in Greenville without a job, along with 60 at other locations.

The court documents show Wynit owed employees for unpaid gross wages, commissions, benefits, salaries, payroll taxes, reimbursements and 401(k) contributions.



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Information from: The Greenville News, https://www.greenvillenews.com

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