CoreUPT skis, one of the new ski brands on the market, has just filed for bankruptcy after their primary investor dropped out. Founded in 2008 by Guerlain Chicherit, this France-based company catered to the rapidly expanding freeride market. Their athlete roster has been quite impressive over the years for such a young company, grabbing big names such as Justin Dorey, TJ Schiller, and Candide Thovex, among other legends of the sport.
“They’re officially in bankruptcy protection in France,” says Jay Taylor, owner of the Soze group, which distributes CoreUPT in North America. “They have until the middle of July to find a new investor.”
Full details of the situation are yet to be released, but it is known that current athletes will still be paid through their contract period and they are continuing production of their ’11/’12 lineup. Unfortunately at this point the future of the company is looking grim, unless they stumble upon a new investor. CoreUPT will be releasing more details mid-July as to the fate of the company. Was their downfall paying too much for too big of names out the gate? A reflection of the current economy? Or simply poor timing when so many boutique brands are entering the market?