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Inflatable manufacturer files for bankruptcy

March 1st, 2010 / By: / Industry News

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.

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