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europa sports products bankruptcies

    europa sports products bankruptcies

    Additionally, This communication is for informational purposes only and is not intended as an offer or solicitation for the purchase or sale of a security. Sometimes Wheeler will see his old friends at school and wont know what to say. Win whats next. WebEuropa Sports Products is located in North Carolina . Menu options for Europa Sports Products Inc. Energy Drink Maker Says Monster Launched Smear Campaign, Co. 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. When it comes to x. 71 36 Law360 provides the intelligence you need to remain an expert and beat the competition. WebBiosteel Sports Nutrition; Black Market Labs; Blender Bottle; BSN; Bucked Up; Cellucor; Clean Beans; Clean Eatz; Controlled Labs; Core Nutritionals; Defiance Fuel; Eat Me 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. These are the seven fitness and sporting goods companies that have filed for bankruptcy so far in 2020. WebFast paced positive culture. 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. WebGet David Hayes's email address (d*****@europasports.com) and phone number (704957.) at RocketReach. I saw that youth sports had become such a massive industry. In the legal profession, information is the key to success. With 10 massive distribution centers and offices strategically located nationwide, Europa's expedited delivery process allows customers to keep "Just in Time" inventory. Good to know, Bilanski responded. Bilanskis initial contract which ran for one year included profits for running camps for the Timbers, said Shore, who left the board before Bilanski was promoted to executive director. The s--- that I can see on the google admin is crazy. 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. Workload is absolutely not compensated for and management plays a huge role in that. The coronavirus outbreak has wreaked havoc on nearly every sector of the retail industry including fitness and sporting goods. As the industry continues to grow, many clubs find themselves vulnerable, and embezzlement scandals have fractured organizations and communities across the country a youth basketball club in Omaha; a wrestling club in Mt. You have to know whats happening with clients, competitors, practice areas, and industries. /Type /XRef The ISSN is also recognized by many Universities as offering the latest, cutting edge and non-biased information about the scienceand application ofsports nutrition and supplements. Deloitte Corporate Finance LLC, an SEC registered broker-dealer and member ofFINRA and SIPC, is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. 0000005429 00000 n 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. Cision Distribution 888-776-0942 0000002497 00000 n His transaction experience includes sell-side, b More. 0000005855 00000 n << NEW YORK, July 15, 2020 / PRNewswire / -- CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Europa Sports Products LLC. I think people have stood by her and feel very strongly in support of her, said Paige Hunt, a Bend resident whose son, Jake, left the Timbers to play for Apex last year. /DA (/Helv 0 Tf 0 g ) Kylie Jenner raises concerns about her family's "beauty standards" in a new episode of 'The Kardashians'. WebIntellectual Property Securities Bankruptcy Competition Employment White Collar Legal Industry Access To Justice Law360 UK Pulse || See all sections || TAKE A FREE TRIAL /Fields [ ] x. Here's a list of the fitness and sporting goods companies that have filed for bankruptcy in 2020. xAa,hN!dH"0K)V%( [`X:Q^j7r{8!`JoX2". According to the Timbers board of directors, the laptop contained evidence of financial impropriety; Bilanski had allegedly directed several unauthorized payments totaling $80,684 to herself over a six-year period and, in turn, had paid a portion of the funds to another former Timbers employee, Jen Davin. 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. PLEASE NOTE: A verification email will be sent to your address before you can access your trial. 1 Europa Sports Products reviews in Pompano Beach. Europa Sports Products, Inc. filed as a Foreign For-Profit Corporation in the State of Texas on Thursday, June 13, 2002 and is approximately twenty-one years old, according to public records filed with Texas Secretary of State.A corporate filing is called a foreign filing when an existing corporate entity files The transaction closed on Feb. 17, 2016. About the ISSN Since 2003, the International Society of Sports Nutrition is recognized as the only not-for-profit academic-based society dedicated to sports nutrition and growing the science of applied nutrition. For more information, visit www.lonestardistribution.com. 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. /Helv 68 0 R Modell's Sporting Goods was among the first retailers to file for bankruptcy when it announced in March that it would permanently close and liquidate all of its stores. "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. 0000008493 00000 n Town Sports International the parent company of New York Sports Clubs and Boston Sports Clubs, among a number of other fitness chains filed for Chapter 11 bankruptcy on September 14, citing pandemic-related difficulties. endobj Some families have kids playing for both clubs, including Gassner, who let his daughter, a senior in high school, make her own decision to leave for Apex last year. 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. The transaction closed on Feb. 17, 2016. Is youth sports next? Lorin leads DCF's Consumer Business Group. Jeff Compton Work Experience and Education . Calendar, Author Bilanski, 49, still has plenty of community support, and this past summer she filed a defamation suit against the Timbers, seeking $5.1 million from the club and former board president Michelle Hart. Carrozza has tracked and examined hundreds of cases of youth sports embezzlement totaling millions of dollars stolen in the United States and abroad in recent years. 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 0000009459 00000 n Our people and our culture make Deloitte a place where leaders thrive. 73 0 obj 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. /L 288711 This information is available in the PitchBook Platform. Get an inside look at the rich diversity of background, education and experiences of our people. Helping Europa and Lone Star find a strategic partnership aimed at advancing their position as a market leader in the nutritional and sports supplements space was a rewarding experience, said Lorin DeMordaunt, managing director and Consumer and Retail Group lead, Deloitte Corporate Finance LLC. Bilanski had coached the University of Oregons womens program for eight years, leaving as the schools all-time winningest coach. About Lone Star Distribution Theres often no governance of youth sports organizations not from parents, sponsors or local governments and most embezzlement cases involve treasurers or volunteer board members who have been trusted with an organizations funds, with little to no checks and balances on how budgets are operated. With our significant experience providing investment banking services across key industries, we are able to offer our clients solutions that help them to achieve their strategic objectives. I am so angry I want to stick it to these f---ers. OSullivans attorney did not respond to a request for comment. About Sheridan Capital Partners 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. 71 0 obj 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. "With that said, we intend to use the process to strengthen the future of 24 Hour Fitness for our team and club members, as well as our stakeholders.". We try to force the issue and say hello, smile and say thank you for team dinners and such. Password (at least 8 characters required). Even before the allegations of embezzlement came to light, the lawsuit contends, Bilanski and a group of Timbers employees and team managers embarked on a campaign to undermine the organization, which was born out of tension with the board and its president, Hart. 0000003152 00000 n Investment banking or other services that would require registration as a broker-dealer with the SEC and membership in FINRA would be provided exclusively by DCF. When Hart commented on a social media post in 2021, Bilanski texted to Davin that Hart and her son would be black listed, according to the lawsuit. The [youth sports] organizations financial maturity is not relative to the dollars flowing through them. Certain services may not be available to attest clients under the rules and regulations of public accounting. /T 287240 For more information visit www.issn.net. Its draining the club, said Andy Fecteau, a Bend physical therapist whose three children competed for the Timbers and whose family used to be close with Bilanski. Bilanski has not denied taking the money but says it was part of a profit-sharing agreement with the club. >> Tim Swingler, the former president of the club, said Wells was a trusted volunteer who never brought actual bank statements to board meetings, instead representing the clubs spending through his own accounting. For more information visit www.europasports.com. Please see our Privacy Policy. "We are pleased to work with the company to arrange this asset-based financing that meets their needs and supports their business strategy. + 1 212 492 4484, Based in Charlotte, Lorin is a managing director with Deloitte Corporate Finance LLC (DCF). Contact Who is Europa Sports Partners Headquarters 11401 Granite St, Charlotte, North Carolina, 28273, United States There were all kinds of mudslinging that tore people apart.. 0000007039 00000 n Investment banking products and services within the United States are offered exclusively through Deloitte Corporate Finance LLC. %%EOF 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. Europa Sports Partners LLC. /Outlines 65 0 R The work is typical warehouse work, order pulling, packing etc. 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. WebEuropa Sports Products, Inc. Overview. For more information, visit www.investmentbanking.deloitte.com. Her credentials energized one of the states largest clubs, and over the next five years, she received several pay raises that eventually bumped her salary up to $119,000 per year nearly $30,000 more than she made as a head coach at the University of Oregon. I think its really shattered a lot of longtime parental relationships. 2015-2015. 0000009152 00000 n /DR << >> Its not making sense to us., Massive sports complexes are latest front in war for visitors, dollars. Already a subscriber? Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. All rights reserved. From pre-workout to recovery, the science of sports nutrition has changed the game for athletes, trainers, and coaches. By clicking Sign up, you agree to receive marketing emails from Insider In Virginia, an Ashburn woman pleaded guilty in January to stealing an unspecified amount of money from McLean Youth Football the organization dissolved at the time of the scheme in 2016 using funds for meals at restaurants, visits to a spa and pet care. The Company offers amino acids, bars, clothes, club accessories, cognitive products, creatine, dietary KeyBanc Capital Markets, City National Bank Arrange $225MM Energy Transition Debt Facility with Scale Microgrids, New York Community Bancorp Acquires $38B of Assets of Signature Bridge Bank from FDIC, Jefferies Arranges $130MM Term Loan for Danimer Scientific, CIFC Adds Kunz as Managing Director in Investor Solutions Group, Ares Commercial Finance Provides $31.2MM Credit Facility to Leading Manufacturer, Distributor of Home and Garden Equipment, Ares Management Closes $2.1B in Direct Lending Commitments in Q1, $23.5B in Last 12 Months, Oaktree Provides $250MM Term Loan Facility to Seres Therapeutics, Flux Power Renews $14MM Credit Facility with First Citizens Bank, 76% of Small Businesses Feel Well-Equipped to Survive a Recession, BofA Survey, Ocean Bank Provides $10MM Factoring Facility to Leading Specialty Repair Company, eCapital Healthcare Division Delivers Funding to Nine Healthcare Providers in Q1, First Citizens Bank Provides $16MM in Financing to FitLife Brands, Flatbay Funds $2.5MM Owner-Occupied CRE Bridge Loan for Serial Entrepreneur, Portage Point Bolsters Middle Market Investment Banking Practice with Addition of Waldman, Citizens Business Conditions Index Bounces Back in Q1, U.S. Census Bureau U.S. Department of Commerce, Full Report on Manufacturers' Shipments, Inventories and Orders - March 2022, What Asset-Based Lending Can Learn from AI in the Grocery Sector, Gibraltar Equipment Finance Built on a Solid Foundation and Ready to Roll, In Todays World, Many Companies are Taking a Hard Look at Their Liquidity, Events Morris, Mich.; and a soccer and lacrosse club Hanover, Pa. Its just been a lot of conversations, a lot of occupying mental space, just trying to keep everything going, Derrick said. WebOn 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). About Europa Sports Products Based in Charlotte, NC, Europa Sports Products is recognized as an industry leader in the distribution of nutritional and sports supplements, sports drinks and accessories to mass market retailers, gyms, health food stores and specialty supplement retailers. Very little interaction. I took a free trial but didn't get a verification email. This has put me back in an environment where I can really affect what is going on out there on the green., Legal and regulated in some states and banned in others, youth MMA is growing in popularity. Prior to joining DCF, Lorin served as a managing director and co- More, James is a managing director with Deloitte Corporate Finance LLC (DCF). The rift in Bends soccer scene was just beginning. 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). 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. 2023, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map. 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. /Type /Catalog Clubs across many sports, including soccer, basketball and volleyball, rake in hundreds of thousands of dollars per year from registration fees, fundraisers, private Please see our Privacy Policy. "CIT Northbridge Credit is a trusted financial partner supporting middle-market companies with a broad range of flexible asset-based debt solutions. 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. The laptop was sent to a data forensics examiner in Portland. 0000003853 00000 n 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. CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $40 million senior secured credit facility for Europa Sports Products LLC.Europa Sports Products is an industry-leading distributor of nutritional and sports supplements, sports drinks and accessories to mass market retailers, gyms, health food stores, specialty supplement retailers, sporting goods stores and many other outlets. There was a significant void in the nutritional sports sector as a result of the financial impact of the pandemic. The ISSN is the world's leading academic organization dedicated to the science of sports nutrition and supplements. I took a free trial but didn't get a verification email. Robbie Duncan will serve as ESPs new Chief Executive Officer and Tony Todaro as its new Chief Financial and Administrative Officer. We are all screwed as there is evidence of any file deletion or transfer. Visit Business Insider Premium for more stories about the changing face of fitness. Directory, Extended Site The material on this site may 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. Lone Star operates six distribution centers located nationwide and is a portfolio company of Sheridan Capital Partners, a Chicago-based lower middle-market private equity firm. Bilanski and several former Timbers staff members are also accused in a lawsuit of stealing the clubs trade secrets on their way out the door, according to court documents, altering records and transferring confidential personal information of thousands of players, including contact information, addresses and, in some cases, Social Security numbers while forming their own rival club in town. He was 34 when he was diagnosed with ALS. There is plenty of work to do off it. Antonio, AFI Managing Partner, said, We are extremely excited about our new platform investment. 0000006272 00000 n 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. Youre viewing 3 of 9 executive team members. So, yes, it was in her contract, Shore said. "I'm pleased and honored to have Europa Sports and CEO Eric Hillman as part of the ISSN community. /O 74 See Terms of Use for more information. /ABCpdf 6109 << /Encoding << 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. AFI PARTNERS FORMS EUROPA SPORTS PARTNERS, AFI PARTNERS COMPLETES ACQUISITION OF GARSITE AND PROGRESS TANK, A TOOLBOX THAT'S WORKING TO GROW AMERICAN JOBS. The ISSN conferences, tutorials, lectures and courses have been recognized by the American Dietetic Association, National Strength and Conditioning Association, American College of Sports Medicine, American Council on Exercise, American Physical Therapy Association, National Association of Athletic Trainers and other organizations as well. Your Company Listed, Submit 0000004251 00000 n Significant legal events involving law firms, companies, industries, and government agencies. Deloitte Corporate Finance LLC (DCF), a broker-dealer registered with the US Securities and Exchange Commission (SEC) and member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), is an indirect wholly-owned subsidiary of Deloitte Financial Advisory Services LLP and affiliate of Deloitte Transactions and Business Analytics LLP. /N 9 About Europa Sports Products, Inc. << I lost most of my friends I had been playing with since kindergarten. 0000004943 00000 n Already a subscriber? The ongoing case reveals the complexities of running a youth sports organization: Leaders engaged in bickering, name-calling and political maneuvering, all the while leaving kids in the crossfire or, in some cases, altogether forgotten. WebEuropa Sports Products Overview Work Here? Prior engagement performance is no guarantee of future performance and may not be representative of the experience of other clients. 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. 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. The nonprofit organization reported more than $1.1 million in revenue in 2019 alone, according to the most recent tax records available. >> 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. When typing in this field, a list of search results will appear and be automatically updated as you type. This is a profile preview from the PitchBook Platform. He wanted to prove that he wasnt making a mistake by staying with the Timbers. 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. not be reproduced, distributed, transmitted, cached or otherwise used without written Try our Advanced Search for more refined results, Searching articles in Europa Sports Products Inc /PDFDocEncoding 69 0 R If [the Bend Timbers board doesnt] give up we will start a new club, take a crap ton of kids and bankrupt them, the former Timbers treasurer wrote in a text that was included in court filings. Get 5 free searches. 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. WebScott has over 40 years experience repairing and servicing Honda products, ATVs, Motorcycles. A joint venture advised by CIT Asset Management, it provides revolving and term loan commitments from $15 million to $150 million to companies across various industries and business cycles, and serves primarily as sole lender, agent, club participant or co-lender. Certain services may not be available to attest clients under the rules and regulations of public accounting. Law360 provides the intelligence you need to remain an expert and beat the competition. WebEuropa Sports Products, Inc. filed as a Foreign For-Profit Corporation in the State of Texas on Thursday, June 13, 2002 and is approximately twenty-one years old, according to 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? Like several other fitness companies, Cyc Fitness took a hit from closing its studios to prevent the spread of the coronavirus. About Sheridan Capital Partners When typing in this field, a list of search results will appear and be automatically updated as you type. Honda Goldwing, Valkyrie , VTX , and Yamaha Star Motorcycles a Board Memberships & Affiliations. For more information, visit www.investmentbanking.deloitte.com. E.J. Deloitte Corporate Finance LLC Advises Europa Sports Products, Inc., in its merger with Lone Star Distribution, a portfolio company of Sheridan Capital Partners 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. Web72355 EUROPA SPORTS PRODUCTS, LLC, 11401 H GRANITE STREET, ATLANTA, GA, 30384-7440US Mail (1st Class) FISHMAN JACKSON RONQUILLO PLLC, MARK H. Password (at least 8 characters required). His diligence has paid off this fall: He made Summits varsity team as a sophomore. With an in-depth understanding of the marketplace and access to a global network of investment bankers, we help clients confidently pursue strategic transactions in both domestic and global markets. /Pages 66 0 R 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. Clubs across many sports, including soccer, basketball and volleyball, rake in hundreds of thousands of dollars per year from registration fees, fundraisers, private training and camps, but checks and balances on the flow of that money are often absent. Was Bend Timbers, before the split, run as a business with integrity or not? 's annual revenues are over $500 million (see exact revenue data) and has 100-500 employees. 2023, Portfolio Media, Inc. | About | Contact Us | Legal Jobs | Advertise with Law360 | Careers at Law360 | Terms | Privacy Policy | Cookie Settings | Help | Site Map. 0000007892 00000 n In a deposition with attorneys for the Timbers, Bilanski invoked her Fifth Amendment right more than 340 times. He eventually raced to his black pickup and headed to watch his son play for Summit, one of the local high schools where Timbers and Apex club players have come together to play for the fall. Daily and real-time news and case alerts on organizations, industries, and customized search queries. 0000003742 00000 n Europa will look to the ISSN for the latest scientific research in the category to insure that its customers get the very best products. Access your favorite topics in a personalized feed while you're on the go.

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