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Wynit files for Chapter 11 bankruptcy protection

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Wynit Distribution LLC, a consumer electronics and technologies distributor, has filed for Chapter 11 bankruptcy protection. The company closed its Greenville headquarters in August, citing a lackluster holiday selling season.

The bankruptcy court document (.pdf), filed by Wynit COO Pete Richichi, shows the company has between 5,001 and 10,000 creditors and estimated assets between $100 million and $500 million. The company’s 20 largest creditors are also listed in the document and include Fitbit Inc. at more than $31.5 million, Daymen Asia Limited at more than $12.8 million and Symantec Corp. at $9.3 million.

When the Eden Prairie, Minn.-based company announced it was closing its Greenville location, Richichi said the software publishing and supply chain services divisions in Minnesota would remain open, and that the Greenville closure was “purely a financial decision.”

Wynit first opened its Greenville headquarters in November 2015. The bankruptcy court document shows offices and assets in Ontario, Nevada, Tennessee, Texas and California.

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Write a Comment

October 17, 2017

I worked there 10+ years. Communication was never a strong suit. For the loyal employees who moved the company and kept things going through transition this is a huge slap in the face. No severance like other employees who didn’t move or were let go prior to this were provided. How is that ok?

September 27, 2017

It's terrible that this is going on especially the fact they just told us in short notice that the company is shutting down. Imagine having an approved vacation that you are supposed to be paid for and get back to work to find out not only your job is shutting down but they will not honor your sick, personal, floating holiday, or vacation time. HIGHLY unfair!!!! I am appreciative of the raise even though its only from us closing. great company to work for, but just not enough communication.