Innovative Objects, LLC filed for relief under Chapter 11 of the United States Bankruptcy Code on September 8, 2016. That form of bankruptcy is a reorganization and not a liquidation. Due to contentious litigation with a former owner and an unfavorable lease it was necessary to seek bankruptcy protection to allow the company time to reorganize. These issues will now be dealt with in the bankruptcy court. The company plans to retain its employees with full pay. The company will use the next 180 days to formulate a plan of reorganization that can be confirmed so that the company emerges stronger and more resilient for the demands of the 21st Century. We look forward to continuing our partnership with you to reach our goals.
PILR and blu20 remain strong and will continue forward with no interruptions to our ability to serve our clients.