Many a successful business has fallen prey to the adverse economic conditions of recent years. One such Michigan company was reportedly listed among the top 100 private companies in Birmingham. A toy manufacturer, Summit Products LLC, with its headquarters based in Birmingham's Southside, has recently filed for the protection of Chapter 7 bankruptcy.
The toy company is currently offered for sale as part of the asset liquidation process. The asking price is reported to be $2.2 million. The core brands of Summit Products LLC are Backyard SafariTM and ZikkionzTM, and they are offered for sale on Amazon, along with retail chains such as Toys-R-Us, Wal-Mart and Target and other specialty stores nationwide. Summit Products reported their assets to be $1.6 million, and their liabilities were listed at over $6.8 million.