Report: Loop Tackle Restructuring

In the first monthly issue of their new email newsletter, Angling Trade reported this afternoon that Swedish tackle manufacturer Loop Tackle Design AB is restructuring. According to AT:
Loop “is undergoing reconstruction, part of which involves offering companies to which it owes money (including Angling Trade), 25 cents on the dollar for its outstanding debts. Creditors were advised via letter that failure to accept a 75% reduction in payment increases the risk of Loop going bankrupt.”

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