Inflatable manufacturer files for bankruptcy

Intercoastal Inc., parent company to APEX Inflatable Boats, filed for Chapter 7 bankruptcy.

Filings came after litigation between Intercoastal and Armco Mfg. Inc. Armco alleges it sent manufacturing equipment to Intercoastal’s Costa Rican plant in 2006 as part of a deal to have Intercoastal produce Armco products, but Intercoastal never delivered the agreed upon products.