Zubaz Parent Company Files For Chapter 11 Bankruptcy

Minnesota-based Comet Clothing, which holds the trademark on Zubaz, has “filed for Ch. 11 bankruptcy protection as it continues operations,” according to Dylan Thomas of the MINNEAPOLIS/ST. PAUL BUSINESS JOURNAL. The coronavirus pandemic “played at least a partial role in the company’s June 12 bankruptcy filing, hampering its ability to fulfill orders -- and get paid for them” -- during Q2. It also caused Comet to pull the planned March launch of a “co-branded line with Adidas” that would have included cleats, gloves and training apparel. The company has licensing agreements with MLB, the NFL, WWE and nearly 50 colleges. NFL Properties LLC, the merchandising arm of the league, “has an unsecured claim” of $1.1M (BIZJOURNALS.com, 6/16).