On 20 FEB, EdisonReport published a press release from Deco Lighting announcing their restructuring plan. In that release, Sam Sinai, states “We’ve been through tough times before. We’ve always survived. This time, with the right team in place, and the restructuring we are embarking on, it is not anticipated that the recent reorganization filing will have any effect upon Deco’s new product launch, customer service, and production of quality lighting fixtures and components….” Read the entire restructuring plan here.
Today, we received a copy of their Chapter 11 restructuring.
We reached out to Deco’s co-founder and CEO Sam Sinai, who sent us this statement, “The Chapter 11 filing by Deco Lighting provides time and financial flexibility to perfect the business model supporting our new wireless technology, one that delivers a unique commercial opportunity for our business partners, including our rep agencies and other stakeholders. We’ve shared our plans with several of our agents who are excited to explore the unique residual income model afforded by our technology—the first of its kind in our industry. We continue to be open and transparent about this process and we welcome any questions that you have about our plans for the future and how the restructuring process is expected to develop over the coming months.”
Below is a picture of the filing that EdisonReport received anonymously.