According to the news released on Entertainment and Sports Programming Network (ESPN) on May 20,2012 (the link) French ski brand CoreUPT has filed for Chapter 11 bankruptcy.
The article states that the problem started for CoreUPT in January 2011. At that time CoreUPT was raising funds and courting investors to finance production on its hardgoods line and an expansion into technical outerwear. General Manager says: "Even with promises from different investors, we didn't realize [a sufficient] increase of capital." As a result, CoreUPT's product deliveries had to be delayed that year in North America and elsewhere in the world.
Well, these facts and unfortunate coming danger signs were already exhibited with ASKMORE. According to December 2008 financial data, the MORE Rating assigned to CoreUPT was “C” (Extremely Pathological) and this rating has remained unchanged even on June 2011 . The negative shareholders’ funds has led to “No Return” level Solvency. In spite of the increase realized in sales from 2008 to 2011, because of the soaring total costs, company ended the year with relatively higher losses.