Missoula-based electronics store Vann’s announced today that it has lost a credit line from a major lender, making it possible that the company with stores across the state may have to file for bankruptcy.
The Missoulian reports that the announcement came a month after Vann’s brought in a new CEO, Jerry McConnell, to help restructure the company.
McConnell told the newspaper that customers will see little difference in Vann’s operations and emphasized that the financial dealings would be “internal work.”
An investment adviser told the Missoulian that while this doesn’t mean Vann’s is going out of business, it is “a red flag for a major Montana company.”
Read the full story at the Missoulian.
Full disclaimer: Vann’s is basically my source for all things electronic. I have been a customer of the store for years.