Eniva has filed Chapter 11 bankruptcy. According to the filing signed by Eniva President and CEO Andrew Baechler, the company has a debt load between $10 and $50 million with assets roughly the same.
Yet a quick Google Search for “Eniva Debt Free” yielded lots of results:
http://www.whyev.com/eniva-corporation.html
Eniva is a debt-free company doing in excess of $10 million in annual sales with more than 100,000 Eniva Members across the country.
http://www.potentliquidsupplement.com/EnivaCorporation.htm
The Eniva Corporation a young but well-established, debt-free company, with new products, new ideas, and new technology.
http://www.evdoctors.net/
Eniva is a debt-free US-based company that has developed a breakthrough product.
Granted, all of these sites appear to be field sites run by Eniva representatives, but it is interesting that many of them say the exact same thing. I just listed a few, there are lots more.
It will be interesting to hear whether the “Eniva – debt-free” rumors come from the company or the field.
No word on what this means to Eniva distributors.
Here are some additional articles for you:
Star Tribune
Here’s another article with a statement from the company:
In a statement e-mailed late Wednesday, Eniva told Twin Cities Business that it “was the victim of predatory lending practices and unscrupulous business behavior of a north metro real estate group,” which prompted the bankruptcy filing. According to the company, that real estate group, which it declined to name, “wooed” it into its current location—the former Cornelius Company headquarters at 1055 West Main Street in Anoka—in 2006. Eniva said that it told the real estate developers and lenders that it only wanted to occupy 100,000 square feet of space, and both parties assured Eniva that they would help the company sell excess land, provide additional renters, and find additional capital as necessary. With those assurances, Eniva said that it “reluctantly” signed a master lease for the property.
