No Fear, which filed for Chapter 11 bankruptcy protection in late February, received court permission to spend $220,000 of its bankruptcy loan to expand No Fear
MX, its motocross protective sports equipment line.
The
portion of the $3.5 million loan will buy inventory for the line.
The brand has sponsored racing athletes like King of Supercross Jeremy McGrath, X Games champion Travis Pastrana and NASCAR convert Ricky Carmichael.
“Unlike a number of retailers and apparel brands that have a history of targeting the major board sports (surfing, skateboarding and snowboarding), the No Fear Brand was founded in motocross and freestyle motocross and has maintained an intimate and continuous involvement in these and other major motorsports,” Chief Executive Mark Simo said in court filings shortly after the company filed for bankruptcy protection in February, noting that the company also developed an energy drink, according to a report in the Wall Street Journal.
Despite No Fear MX division's success since its 2000 start, most of the company's revenue still comes from sales of sweatshirts, T-shirts and other apparel for the brand, which Simo describes as “synonymous with an attitude of irreverent and spirited engagement.”
No Fear at the time of the bankruptcy filing had 41 stores in California, Arizona, Nevada and four other states.
