Skinny Nutritional Corp., the local flavored-water marketer that saw most of its board resign earlier this year, has filed for Chapter 11 bankruptcy protection.
What appeared to be a corporate-
governance revolt in January has progressed into a fight to keep the Skinny Water brand from falling into the hands of a secured lender.
The Bryn Mawr company listed total assets of $2.9 million and total debts of $6.0 million in documents filed in U.S. Bankruptcy Court in Philadelphia.
In a filing with the Securities and Exchange Commission on Wednesday, Skinny Nutritional stated that the "decision to seek protection under Chapter 11 was triggered" by an attempt by New York-based lender Trim Capital L.L.C. to foreclose on certain assets, including its portfolio of trademarks.