Israel's B.O.S. closes US Supply Chain division

25 Nov 2010

Source:  Market Watch

B.O.S. Better Online Solutions Ltd today announced that the two U.S. subsidiaries that are part of its Supply Chain division: BOS Supply Chain Solutions (Summit) Inc. and its holding company, BOS Supply Chain Solutions(Lynk) Inc. have filed a Chapter 7 petition with the US Bankruptcy Court.  As a result, BOS will record an approximate $660,000 non-cash write-off in the fourth quarter of 2010, but does not expect any adverse financial impact on its continuing operations.

Yuval Viner, BOS CEO added: "This act will end the uncertainty that has surrounded our U.S. Supply Chain operation since our last announcement.  In our Supply Chain division, we plan to work through our Israeli subsidiary to expand our penetration of international markets, and we continue to enlist new manufacturer representations.

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