Pacific Vector Holdings Inc., which owns actions sports brands and retail stores, is liquidating its three subsidiaries through voluntary petitions for Chapter 7 bankruptcy as a result of its financial losses, defaults by certain lenders and its inability to obtain appropriate financing as previously announced.
Ryderz Compound Inc., Reno Wilson Inc. (operating as Gatorz), and PVH DNA Inc. have all filed Chapter 7 petitions in the State of California and will close. Pacific Vector will be filing for voluntary bankruptcy proceedings under the Bankruptcy and Insolvency Act of Canada. All of the directors and officers of the Corporation have resigned.
Trading in the company's shares on the TSX Venture Exchange, where they traded under the symbol PVH, were suspended July 10, 2014 as a result of the Cease Trade Order being issued by the Ontario Securities Commission due to failure to file certain continuous disclosure documents.
