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Distressed food gifts merchant Wisconsin Cheeseman was snapped up by Swiss Colony parent company Colony Brands earlier this week.
The Dane County (Wisconsin) Circuit Court approved the sale of Wisconsin Cheeseman by parent firm by Wisconsin Food Gift Co. to Colony Brands on Monday for $550,000, according to court documents. The acquisition includes the brands, assets and inventories of Wisconsin Cheeseman.
According to Wisconsin Chapter 128 paperwork filed with the Dane County Circuit Court, Wisconsin Food Gift owes $110,000 to Jim's Cheese Pantry, $37,000 to Dynamic Print Group and $27,000 to Uline Shipping Supplies.
Chapter 128 is not considered bankruptcy under Wisconsin state laws, but does declare a company or person to be "insolvent." Under Wisconsin's Chapter...