Team sports equipment supplier Kranos Corp. is the latest and largest victim of the implosion in the category caused by the Covid-19 pandemic, filing for Ch. 7 liquidation in Wilmington, DE, bankruptcy court with $1,219,773 in assets and $58,342,153 in liabilities. According to the filing, Kranos’ revenue was $41,422,909 for the trailing eight months of its fiscal year that began May 1. Full year revenues for FY20 were $71,798,252, down 6% from $76,164,662 in FY19, and likely already suffering from the beginning impact of team sports shutdowns last spring.

The assets consist entirely of Zamst inventory, which Kranos distributes in the ... Log in to view full article.