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Old 01-22-2013, 06:55 PM   #1
Glitter Queen
Join Date: Feb 2009
Posts: 10
Default provocraft files ch 11???

I heard from a friend that PC filed ch 11.. is this true? I love my cricut so hoping it's just a rumor
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Old 01-22-2013, 11:07 PM   #2
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Join Date: Feb 2007
Posts: 3,192

There was a rumor that PC filed Chapter 11 several years ago. I do remember there was a document at that time. I think it was when the other company was holding them before Bank of America took over.

I just looked for new Chapter 11 filings. I didn't find anything craft related. I do know ProvoCraft is releasing more cartridges. They released Outdoor Man last week. Anna Griffin is coming out with a new cartridge. Anna Griffin's new Cuttlebug came out this evening. There was a new patent for a new machine being circulated awhile back.

If I am thinking right Chapter 11 is not the final end of a company. A lot of companies file to reorganize or restructure.

Berkshire Hathaway (Warren Buffett) is buying Oriental Trading company who declared Chapter 11. I bringing up Oriental Trading because it's still going strong and not going anywhere. They are just organizing and restructuring their company.

If PC did file Chapter 11 it might not be bad thing. They could be opening the doors to have another holding company snag them so they can get away from Bank of America. They might be restructuring to organize their assets better and to put money in new products.

I own a lot of die cutters. I love my Cricut too. I have always loved PC products. I don't want them to go belly up either. It would be just a heart sick to think of all those people who would lose their jobs too.
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