Pacific Vector Holdings Inc., formerly known as Gatorz Inc., is liquidating its three subsidiaries – Ryderz Compound Inc., Reno Wilson Inc. (operating as Gatorz), and PVH DNA Inc. – through voluntary Chapter 7 bankruptcy petitions. The move was attributed to financial losses, defaults by certain lenders and its inability to obtain appropriate financing as previously announced.
In March, the company said it had closed 14 of the 34 action sports stores it acquired last year from Ryderz Compound Inc. The closings were designed to support a return to profitability. Its retail stores included Xryderz, Pr7me Ride Shop as well as Street League Skateboarding under license. It also owned the Gatorz sunglasses brand and the skate brands: DNA Distribution, Alien Workshop Habitat and Reflex.
Pacific Vector's statement indicated that all of the directors and officers of the corporation had resigned. Trading on Canada's TSX Venture Exchange was suspended on July 10 due to a failure to file certain continuous disclosure documents.
