A judge has approved GoLite’s liquidation after no competing bids surfaced to pull the company out of bankruptcy. GoLite’s remaining inventory is being sold to Hilco Merchant Resources, which is conducting a going-out-of-business sale.
The liquidation sale began last week on the brand’s Web site and its six remaining Colorado stores. The latest reports suggest inventory has been pretty much “picked over.”
The sale effectively ends GoLite’s 16-year history under founders Demetri and Kim Coupounas, but VF Corp Vans still owns the GoLite trademark, which Timberland acquired in 2006, and then VF Corp acquired in 2011 with its purchase of Timberland.
VF and Timberland had been licensing the name back to GoLite and the separately-owned GoLite Footwear. With the bankruptcy filed by the Coupounas, VF Corp. eventually will be free to resurrect the brand on its own or sell it off.
