Umbro’s Canadian licensee and distributor owes creditors nearly $41M and has until August to "file a reorganization proposal with the Province of Ontario’s Superior Court of Justice," according to Bob Mackin of WORLD FOOTBALL INSIDER. RMP Athletic Locker and sister company Core Sports Inc. were "granted the reprieve June 19," nearly a month after filing under the Bankruptcy & Insolvency Act. PricewaterhouseCoopers is the "proposal trustee for the Mississauga, Ontario-based companies," owned by brothers Mike and Paul Dyson. According to PWC's report, RMP and Core lost $10.4M over the four fiscal years ended Dec. 31. Canada is the "only Umbro-supplied national team competing in the Women's World Cup." Canada football switched from adidas to Umbro in '11 and RMP "renewed the deal last September." RMP VP Mike Shoemaker said that it is "business as usual, despite the company’s woes." Shoemaker: "Umbro hasn't been affected by this in any way shape or form, it has nothing to do with deliveries. We're selling product every day." RMP "laid-off 101 of the 125 staff at its head office, warehouses and sales office after the filing." PWC's report shows that the insolvent company had C$50.4M ($41M) in liabilities as of April 30. RMP lost $1.6M on $23M in '14 sales, but the report "did not disclose sales figures for its Umbro lines." Shoemaker said that the Umbro business is "healthy and growing, but the marketplace is in turmoil as consumers switch to online shopping" (WORLD FOOTBALL INSIDER, 6/22).
