RSS IceCap Lighting officially goes out of business, closes its doors

Discussion in 'RSS Feeds' started by MASA Admin, 15 Dec 2010.

  1. MASA Admin

    MASA Admin Moderator

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    IceCap, a once popular lighting company that is headquartered in the United States is out of business. In a letter to their customers, Chuck Troiani stated that they have suspended*operations. Chuck goes on to explain: “Unfortunately, we finally hit a trough in our business cycle due to several factors that impaired this business to the point where we could not and cannot recover. *Therefore, by the direction of the IceCap, Inc. Board of Directors we have suspended operations.” Times have certainly changed, as IceCap used to be the leader in aquarium lighting equipment with their popular line of Metal Halide lights, however with the advent of LED lighting and the poor business planning contributed to IceCap’s demise. However, it looks like IceCap is seeking a buyer of the brand along with a new management team, investors, and/or owners. This announcement comes less than a month after we learned their assets were purchased by the factoring company Millennium Funding. Apparently that effort did not work as planned. Check down below for the full email sent to their vendors.



    Dear Valued Customer,

    First, I would like to extend a Happy Holidays and Merry Christmas to you, your
    family, and employees. *I know this comes somewhat bitter sweet as many of you
    have attempted recently to contact IceCap, Inc. with little to no success. *For
    that I am truly sorry.

    IceCap, Inc. has been around for about *20 years and many of you have been
    dedicated and loyal customers of IceCap, Inc. through the ups and downs over the
    years. *Unfortunately, we finally hit a trough in our business cycle due to
    several factors that impaired this business to the point where we could not and
    can not recover. *Therefore, by the direction of the IceCap, Inc. Board of
    Directors we have suspended operations.

    What this means is we are aggressively and actively seeking opportunities to
    keep *the IceCap brand viable in the markets and with the customers we have
    served over the past 20 years. *In doing so, we expect to bring closure to this
    process within 60 days and plan to align the new management team, investors,
    and/or owners with our valued customers in hopes this continuation of business
    and the relationship with the IceCap brand will mitigate the effects of recent
    events.

    In the interim, please direct all inquiries to chuck.troiani@icecapinc.com.
    Please *allow 48 hours for a response depending on the e-mail volume. Thank
    you!

    Again, my apologies for the situation.

    Regards,
    Chuck Troiani
    IceCap, Inc.

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