The maker of WiseWear fitness wristbands has filed for bankruptcy, running low on money and facing a competitive market, WSJ Pro Bankruptcy reported. Lawyers who put WiseWear Corp. into chapter 11 protection on Wednesday said they plan to auction off the fitness-tracking wristband’s patents, along with the San Antonio company’s other property. They have also hired lawyers to look into potential patent infringement lawsuit against Apple Inc.The luxury-level devices, which also feature panic buttons and mobile phone notifications, are sold online and at retailers including Saks Fifth Avenue, Macy’s and Nordstrom. They cost between $295 and $345, according to WiseWear’s website. WiseWear executives said that they turned to bankruptcy after failing to find investors who were willing to put $2 million into its operations.
