LoveSac Files for Bankruptcy Protection
February 2nd, 2006 @ 2:30pm
SALT LAKE CITY (AP) -- The Salt Lake City-based bean bag company LoveSac is filing for bankruptcy.
The company's owner Shawn Nelson has filed for Chapter Eleven bankruptcy to seek protection from creditors.
Just a year ago, he was on top of the world when he won one (M)million dollars on the reality television show "Rebel Billionaire." He beat out 16 other contestants.
Thirty of the largest unsecured total three-point-two (M)million dollars for goods and services.
(Copyright 2006 by The Associated Press. All Rights Reserved.)
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