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Loop in Troubled Waters!?!?

December 17, 2010
Author: Trouts Staff

Source:  Angling Trade Magazine

I wouldn’t go purchase that Loop rod and reel just yet…

Loop“Swedish tackle manufacturer Loop Tackle Design AB is undergoing reconstruction, part of which involves offering companies to which it owes money (including Angling Trade), 25 cents on the dollar for its outstanding debts. Creditors were advised via letter that failure to accept a 75% reduction in payment increases the risk of Loop going bankrupt. We’ll keep you posted on any developments as they unfold…”

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