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bankruptcy

Olevia LCD TVs are no more, long live Olevia

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Olevia! O-le-via! Hard-hearted harbinger of TVs!

Apparently it’s bad when a company’s stock loses more than 90% of its value within a single year. That’s what happened to Tempe, Arizona-based TV brand Olevia, who you might remember from such stores as “Sam’s Club” and “Costco,” among others.

The Olevia brand was the property of Syntax-Brillian. The company filed for Chapter 11 bankruptcy yesterday and will close down everything except for its digital camera brand, Vivitar, which it’ll sell. There are only eight remaining employees.

via Reuters

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