This one is quite unusual to occur as Ultimate Nutrition has recently filed for Chapter 11 bankruptcy. The issue appears to stem from a 13 million dollar bank loan that their lender refused to help out with. For a company that’s been around for as long as Ultimate has been, its very surprising to hear that their lender would not put trust in this company. However, with the recent passage of the Designer Steroid Act, its more than likely giving a bunch of bank cold feet in helping supplement companies stay afloat. I’m not aware of Ultimate Nutrition even having any ties to prohormones as they haven’t produced any in over a decade but it appears that the banks are taking the adage, “Birds of a feather flock together”.
- Debtor Name: Ultimate Nutrition, Inc.
- Year Filed: 2014
- Jurisdiction: United States Bankruptcy Court / District of Connecticut
- Asset Size: 10,000,000 to 100,000,000
- Case Number: 14-22402
- Industry: Food & Beverage, Retail, Health