- 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.

Republicans introduce bill to protect LGBTQ Americans
Republicans question Democrats' resolve as public turns against impeachment
County may become first in U.S. to bar new refugees

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.


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

Sign up for Daily Newsletters

Manage Newsletters

Copyright © 2019 The Washington Times, LLC.

Please read our comment policy before commenting.


Click to Read More and View Comments

Click to Hide