europa sports products bankruptcies

Already a subscriber? Theres got to be some corrective damage done for someone doing that stuff, especially because its kids.. "CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. 0000005315 00000 n It's Monday through Friday, 11am to finish for the majority of shifts. A growing number of fitness and sporting goods companies are filing for bankruptcy, as the coronavirus pandemic continues to upend the entire retail industry. Additionally, AFI has invested significant capital to build ESPs inventory as part of this transaction, and CIT Northbridge Credit has provided a new working capital facility to support ESP. On a sun-soaked Saturday afternoon in September, hundreds of parents lined the sidelines to watch their kids play at the Timbers turf fields at Pine Nursery Park, a 159-acre complex lush with towering pines, sage and ponds. Discover more about Europa Sports Partners. 71 0 obj On a gloomy afternoon last November, nearly three months after she had been fired by the Timbers, Bilanski met with a paralegal from the law firm suing her in a Starbucks parking lot off Highway 97 in Bend. The new membership with ISSN will generate multiple benefits for Europa's growing roster of mass market retailers, gyms, box owners, health food stores, and specialty supplement stores. Their collective knowledge of the consumer industry and transactional experience in the nutritional supplements space were key to the process, said Jeff Compton, co-CEO of the newly combined company. Menu options for Europa Sports Products Inc. Energy Drink Maker Says Monster Launched Smear Campaign, Co. 25 YEARS IN BUSINESS (704) 405-2022 Visit Website Map & Directions 11401 Granite St Ste HCharlotte, NC 28273 Write a Review Is this your business? These are the seven fitness and sporting goods companies that have filed for bankruptcy so far in 2020. About Europa Sports Products, Inc. USA Rugby. 0000001719 00000 n 4, 2016 Deloitte Corporate Finance LLC (DCF) acted as the exclusive financial advisor to Europa Sports Products, Inc. (Europa), a Charlotte-based wholesale distributor of sports and fitness supplements, in its merger with Lone Star Distribution (Lone Star), a portfolio company of Sheridan Capital Partners. Like several other fitness companies, Cyc Fitness took a hit from closing its studios to prevent the spread of the coronavirus. The number of bankruptcy declarations increased during all four quarters of 2022. In the past few months alone, reports of alleged financial misconduct and convictions of embezzlement have been reported across the country, underscoring a long-standing issue within the industry. F--- these guys, he wrote in a text message cited in court records. Daily and real-time news and case alerts on organizations, industries, and customized search queries. A former professional player from a working-class neighborhood in South Wales who never had to pay to play sports growing up, Price, 42, is in many ways the ideal replacement for the Timbers during this turbulent time an outsider with no community ties and little taste for politics. Your Company Listed, Submit Certain services may not be available to attest clients under the rules and regulations of public accounting. 0000002497 00000 n Effort there is terrible and it is like pulling teeth to get promoted when it is earned. Flywheel Sports filed for Chapter 7 bankruptcy on September 15 in an announcement that called for the permanent closure of all 42 of its spin studios around the country. 0000009459 00000 n 0000004943 00000 n For more information visit www.issn.net. 73 0 obj Bilanski and several former employees downloaded over 7,000 documents and edited, shared or deleted hundreds of documents from the Timbers Google Workspace IT systems in the 11 days after Bilanski was fired, according to the lawsuit; when the administrator told Davin she was removing certain files, Davin allegedly responded: Delete f---ing away.. Prior to joining DCF, Lorin served as a managing director and co- More, James is a managing director with Deloitte Corporate Finance LLC (DCF). There is plenty of work to do off it. After 13 years coaching in the New Jersey youth club scene, he grew wary there because much of the industry in that state is moving to a for-profit model. Selling Adulterated Weight Loss Supplements, Buyers Say, Nutrex, Supplement Co. Strike Deal In False Ad Suit. A growing number of fitness companies have filed for Chapter 7 or Chapter 11 bankruptcy in recent months, after failing to recover from temporary government-mandated closures to gyms and indoor fitness facilities intended to prevent the spread of the disease. All rights reserved. >> Morris, Mich.; and a soccer and lacrosse club Hanover, Pa. Public Relations I think its really shattered a lot of longtime parental relationships. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. 0000008195 00000 n Law360 provides the intelligence you need to remain an expert and beat the competition. This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security. /PDFDocEncoding 69 0 R On May 20, 2021, AFI and its affiliates acquired certain of the operating assets, including the brand names and website, of Europa Sports Products, LLC (Products). 0000004743 00000 n WebScott has over 40 years experience repairing and servicing Honda products, ATVs, Motorcycles. WebEuropa Sports Products Health & Diet Food Products, Health & Diet Food Products-Wholesale & Manufacturers, Vitamins & Food Supplements Be the first to review! << YogaWorks. The lawsuit includes texts between Bilanski and Davin that mocked co-workers and also included vitriol for Hart, who served on the volunteer board for three years and whose 15-year-old son, Ethan Wheeler, is a rising star within the Timbers program. Copyright 2012-2023 Robbie Duncan will serve as ESPs new Chief Executive Officer and Tony Todaro as its new Chief Financial and Administrative Officer. x. Sheridan Capital Partners focuses on providing private equity in support of leveraged buyouts, growth recapitalizations, and large minority financings of lower middle market companies across the healthcare and consumer sectors. stream Logo - http://photos.prnewswire.com/prnh/20120803/MM52028LOGO-a, Cision Distribution 888-776-0942 They operate as big businesses but have sloppy accounting and murky financial oversight. So, yes, it was in her contract, Shore said. For more information, visit www.europasports.com. Workload is absolutely not compensated for and management plays a huge role in that. Given the mandated closure of gyms and fitness centers across the nation during the peak of the pandemic and several key customer bankruptcies, Products exhausted all of its cash and other sources of liquidity. The virtual at-home fitness boom is here to stay and will usher in a new era of exercising that will last long after the pandemic subsides, experts say, https://www.gettyimages.com/detail/news-photo/james-valenti-miss-new-jersey-teen-usa-2014-valentina-news-photo/478920859?adppopup=true, close all of its New York City studios in April, Eugene Gologursky/Getty Images for Flywheel, John Nacion/SOPA Images/LightRocket via Getty Images. /Fields [ ] In a deposition with attorneys for the Timbers, Bilanski invoked her Fifth Amendment right more than 340 times. 's annual revenues are over $500 million (see exact revenue data) and has 100-500 employees. E.J. as well as other partner offers and accept our, J. Conrad Williams Jr./Newsday via Getty Images. Our people and our culture make Deloitte a place where leaders thrive. Click here to login, Enter your details below and select your area(s) of interest to stay ahead of the curve and receive Law360's daily newsletters, Email (NOTE: Free email domains not supported). 0000007039 00000 n "I'm pleased and honored to have Europa Sports and CEO Eric Hillman as part of the ISSN community. DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations. For more information, visit www.investmentbanking.deloitte.com. Kylie Jenner raises concerns about her family's "beauty standards" in a new episode of 'The Kardashians'. Thats what was really the lesson learned is that you cant trust one guy with the keys to the kingdom, Swingler said. AFI Partners, LLC (AFI), a New York based private equity firm, is pleased to announce the formation of a new company, Europa Sports Partners, LLC (ESP). WebEuropa Sports Products is located in North Carolina . A former professional player who had coached at the highest levels collegiately, she found a more lucrative opportunity in the well-financed world of youth soccer. Dang. /ABCpdf 6109 In addition to delivering leading-edge nutrition management to its' customers, Europa's Professional Level ISSN membership will lead to more informed teams and therefore customers in all segments and levels. That is what the lawyers are paid to figure out, said Michael Gassner, a Bend resident who has one child playing for the Timbers and another for Apex. PLEASE NOTE: A verification email will be sent to your address before you can access your trial. Win whats next. Gold's Gym filed for Chapter 11 bankruptcy protection in May, shortly after the company announced it would shutter 30 locations that had been temporarily closed early on in the pandemic. 0000007643 00000 n The culprit, they determined, was Bilanski and another former Timbers employee. The Deloitte Corporate Finance team was instrumental in helping us navigate a mutually exciting transaction with Lone Star and Sheridan Capital Partners. Europa Sports has a strong track record of nearly 30 years of experience in the sports nutrition industry and works closely with manufacturers and key brand stakeholders to ensure efficient distribution of the highest quality products. If Tara or her directors and coaches wanted to run camps, they could have that profit line or moneys we usually spent to hire [outside companies]. About Deloitte Corporate Finance LLC Deloitte Corporate Finance LLC provides strategic advisory services and M&A advice that help corporate, entrepreneurial and private equity clients create and act upon opportunities for liquidity, growth and long-term advantage. I get so annoyed by that and just leave, he said. But by the summer of 2021, Bilanski had fallen out of favor with the clubs board of directors and many of its parents, and after stakeholders conducted a survey and determined she had not been performing her job duties satisfactorily, she was fired that August. As the executive director of the Timbers, she wore many hats she served as a coach, handled financial oversight and directed human resources, helping grow the Timbers into a club that today features two full-time employees, five part-time employees, 20 paid coaches and 10 volunteers on the board of directors. /O 74 Sometimes he plays video games online with his former teammates and they will tell him he should come play for Apex. The NBA's Phoenix Suns and WNBA's Phoenix Mercury announced a new television and streaming rights deal for their basketball games on Friday, over the This partnership also offers increased exposure to scientific studies, and stronger networking opportunities with industry leaders. In late August, days after Bilanski had been fired, the administrator allegedly realized that the Timbers Google Drive was recording a log of all activity. If she did indeed pocket the money God, thats so wrong on so many levels. "While we achieved some success, in partnership with our landlords and vendors, it was not enough to avoid a bankruptcy filing amid an extremely challenging environment for retailers," CEO Mitchell Modell said in a statement, according to Bloomberg. This will be a huge advantage for our customers and the many markets that are looking to optimize their inventory by bridging science and nutrition," said Eric Hillman, Co-founder and Co-CEO of Europa Sports. He was 34 when he was diagnosed with ALS. And the kids are caught in the middle of it.. Sponsorship opportunities have already changed college athletics. But theres that divide.. Youth sports in recent years have exploded into a $19 billion enterprise, by some accounts, but their ecosystem is built on a shaky foundation of nonprofit clubs, many run by volunteers. /N 9 I think the [board] has done a great job of shielding the people who are trying to rebuild. While it is impossible to know whether embezzlement is on the rise in youth sports there is no centralized body tracking cases in the industry it has been a pervasive problem for years, said Erik Carrozza, who served for more than a decade as a youth sports treasurer in suburban Philadelphia and started a nonprofit called the Center for Fraud Prevention to help organizations avoid embezzlement. Deloitte Corporate Finance LLC Advises Europa Sports Products, Inc., in its merger with Lone Star Distribution, a portfolio company of Sheridan Capital Partners "Europa is pleased to partner with the ISSN as a professional level member. In the legal profession, information is the key to success. Get the full list, To view Europa Sports Productss complete investments history, request access, Morningstar Institutional Equity Research, Chief Financial Officer & Chief Administrative Officer. Serving Asset-Based Lending Decision Makers. There was a significant void in the nutritional sports sector as a result of the financial impact of the pandemic. As courts sort the truth, the ongoing case serves as a high-profile example of what many youth sports organizations must contend with. The s--- that I can see on the google admin is crazy. "If it were not for COVID-19 and its devastating effects, we would not be filing for Chapter 11," 24 Hour Fitness CEO Tony Ueber said in a statement. >> Europa services mass market retailers, gyms, health food stores, and specialty supplement retailers through seven distribution centers located in Charlotte, NC, Dallas, TX, Strongsville, OH, Fresno, CA, Windsor, CT, Orlando, FL, and Las Vegas, NV. /DA (/Helv 0 Tf 0 g ) >> In Nebraska, the founder of the popular Omaha Sports Academy was accused of taking more than $400,000 last year and was sentenced to probation after pleading no contest to the charges this past summer. As part of the filing, the California-based company will permanently shutter all 55 of its locations nationwide. Friday, November 13, 2020. Europa is a national specialty distributor of sports nutrition and fitness products, including protein powders, nutrition bars, sports drinks, sports performance supplements, vitamins, weight loss supplements, and meal replacements. The transaction closed on Feb. 17, 2016. 0000007892 00000 n In short order, the embezzlement allegations triggered a lawsuit that has divided a once-unified soccer community and launched investigations by the local district attorneys office and the states Justice Department. This is just parent-adult stuff you guys just go play, said Hunt, the parent whose son now plays for Apex. Liverpool will take the chance to qualify for the Europa League as they look to squeeze everything out of a disappointing season, manager Juergen Klopp said ahead Wayne Price kept a close eye on the action, taking a few of the 20 or so calls he receives each day as the new director of the Timbers. The Europa and Lone Star teams have worked diligently to build companies that have established themselves as trusted resources within the health and wellness industry. A surveillance camera set up in front of the familys house captured someone driving by and yelling, F--- you!, Its affected us, Ethan said. 0000003247 00000 n A handful of coaches and roughly 120 players from the Timbers left last year to join Bilanskis new organization, Apex Futbol Club, cleaving the towns soccer community in half. Attorneys for the Timbers claim in filings that the clubs administrator even worked as a double agent to maintain access to the clubs computer systems and help the group delete, share and edit documents in an effort to form a new club. He had never heard of Bend before applying for the job, which drew more than 200 applicants after Bilanski was fired. Jeff Compton Work Experience and Education . Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. 0000005429 00000 n /Length 212 Clubs across many sports, including soccer, basketball and volleyball, rake in hundreds of thousands of dollars per year from registration fees, fundraisers, private In June, while still employed by the Timbers, one of the clubs coaches, John OSullivan, allegedly began circulating a detailed plan to form a rival club. Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member of FINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. Very little interaction. After first announcing plans to close all of its New York City studios in April, Map, Get Significant legal events involving law firms, companies, industries, and government agencies. Europa services mass market retailers, gyms, health food stores and specialty supplement retailers through seven distribution centers located in Charlotte, NC, Dallas, TX, Strongsville, OH, Fresno, CA, Windsor, CT, Orlando, FL, and Las Vegas, NV. His eighth-grade son chose to remain with the Timbers. Europa Sports Partners corporate office is located in 11401 Granite St, Charlotte, North Carolina, 28273, United States and has 297 employees. Vitamins, Supplements & Health Stores Retail . Honda Goldwing, Valkyrie , VTX , and Yamaha Star Motorcycles a The [youth sports] organizations financial maturity is not relative to the dollars flowing through them. WebBusiness Profile Europa Sports Products Vitamins and Supplements Contact Information 11401 Granite St STE H Charlotte, NC 28273-6401 Visit Website (800) 447-4795 WebEuropa Sports Products is located in North Carolina . DCF, together with the Corporate Finance Advisory practices within the Deloitte Touche Tohmatsu Limited network of member firms, include in excess of 1,900 professionals, who work collaboratively across 150 international locations.
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