With a lender poised to force it into receivership, an Oak Creek, Wis.-based supplier of sports-related energy and nutritional supplements has filed for chapter 11 protection, the Milwaukee Journal Sentinel. reported today. SupplementWarehouse.com Inc., which employs 62 people at its headquarters, its online operation and two retail stores, has sought bankruptcy court protection from creditors as it reorganizes its financial affairs. The firm lists both assets and debts in the $1 million to $10 million range. The company said in its petition that it expects to have money for unsecured creditors after reorganization. In a bankruptcy court document, the company said its operational and profitability problems stem largely from issues related to inventory management, "inventory leakage" and expense control.
