Contour Up For Sale 3
Following a surprise shutdown in early August to consumers and employees alike, Contour is now up for sale. With the "wearable camera" market still booming, it's entirely possible that somebody will step in to revive the company - time will tell.
Press release below...
Seattle, WA – Contour, Inc., formerly a leading provider of POV cameras and accessories, has entered into receivership under approval by the Superior Court of Washington for King County. Inverness Group, LLC, by and through its Managing Partner, John Davidson, has been appointed as Receiver. D.A. Davidson & Co has been engaged by the Receiver to help enable the sale of Contour assets through a competitive bid process within sale procedures to be established in the case. Nathan Pund, Managing Director at D.A. Davidson, commented, “We look forward to facilitating a successful transaction in the best interests of Contour’s creditors and potentially enabling a future for the Contour brand.”
Founded in 2004, Contour grew to be one of the largest companies in its field with almost $30 million in annual revenue.
Contour abruptly shut its doors on August 2, 2013 after protracted negotiations with investors failed to produce a viable funding solution. Remaining assets at the Company include an IP portfolio, customer lists and contracts, supplier contracts, accounts receivable and inventories, trademarks, and other assets. The assets will be sold “as is” free and clear of all liens and encumbrances, and the sale will be subject to an agreed Asset Purchase Agreement and final approval by the Court.
D.A. Davidson is currently accepting solicitations from interested parties, with a final competitive bid process at an auction tentatively set for early October. Interested parties should contact Nathan Pund at email@example.com or (206) 903 – 8693.