American Express suing GoLite founder Demetri Coupounas

The saga of outdoor gear brand and retailer GoLite’s demise isn’t over yet, with creditors now coming after the company’s co-founder for unpaid debts.

The Daily Camera reports that American Express has sued Demetri “Coup” Coupounas, along with GoLite, in Boulder County District Court. The suit is seeking nearly $106,000 in credit card debt.

Boulder-based GoLite filed for bankruptcy in 2014. The company closed all of its stores and held a liquidation sale at the end of that year, paying off the company’s lone secured creditor $816,475 it was owed. But unsecured creditors were left in the cold to the tune of $5.8 million after GoLite’s bankruptcy case was dismissed in March of last year.

Coupounas has since last summer been raising funds through a direct public offering to resurrect their old product line under the new brand My Trail Co.

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