![]() Rick Burton, director of the Warsaw Sports Marketing Center at the University of Oregon, says Converse is a victim of more innovative and versatile competitors like According to a published report, one unsecured creditor is former basketball star The firm says that it had assets of $202.1 million and debts of $226.2 million as of Sept. The company also will close three North American manufacturing facilities and cut about 1,000 of 1,200 jobs. Both sneakers can be machine washed in a cold gentle cycle with mild detergent. The more refined Jack Purcells, "with the signature blue smile at the toe," were first used for badminton. Made of rubber, glue and canvas, Chuck Taylors are as much a part of the history of basketball as a squeaky gym floor and the jump shot. "This is not just, here, take my brand name and pay me a couple of bucks." "Converse will control overall strategy and marketing," says a company spokesperson. license for Converse.Ĭonverse says that fans of the company's trademark Chuck Taylor basketball sneakers and Jack Purcell tennis shoes shouldn't worry about the integrity of future products. Converse is asking for court approval to allow ![]() In exchange, the firm will receive licensing fees. To stay alive, it will have third parties responsible for marketing and selling Converse-brand products in the U.S., as it does in other parts of the world. Today the company filed for Chapter 11 bankruptcy.
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