BURLINGTON, Vt. — A Vermont maker of performance wool apparel is being auctioned off.
The Burlington Free Press reports that a planned sale of Ibex fell through earlier this year, and bids are due by Thursday for the company’s intellectual property.
Robert Zulkoski, managing partner of Vermont Works, said sales plateaued in recent years, and Ibex CEO Ted Manning said the company hopes to resolve outstanding debt through the auction.
Manning said he’s pleased with the magnitude of interest.
Ibex was co-founded in Woodstock, Vermont, in 1997 by John Fernsell, who was CEO until 2013. That’s when Manning, a former executive at Eastern Mountain Sports, took over.
The company angered some retailer last summer when it announced it was going to transition to selling directly to customers.
Information from: The Burlington Free Press, http://www.burlingtonfreepress.com