Friday, January 16, 2009

Colibri RIP

colibri goes out of business
WTF America??? How could we have let an iconic luxury brand like Colibri go out of business? The Colibri Group announced that after 81 years in business providing customers with high-end accessories including cufflinks, humidors and lighters, it has laid off all 280 employees and will go into receivorship to pay off its remaining debts. The company is owned by New York-based Founders Private Equity, proof that the real magic behind PE deals is debt and not any special business acumen PE may have thought they had. Just like with seemingly every other business failure over the past couple of years, Colibri blames the collapse on the poor economy and tight credit environment. What's sadly ironic is that the home page still shows the slogan: Guaranteed. Forever. Eternally.

If Crew Member Tandori is reading this from his boat in the Caribbean: let's go buy this bad boy out of bankruptcy.

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