Acorn Sign Graphics (Richmond, VA) is back in business four months after it declared bankruptcy.
The shop has reopened after iSign (Boyertown, PA) purchased select assets of Acorn in a court-ordered auction, and the new owner is hiring back former employees, Richmond BizSense reports.
After fending off multiple competing bids, iSign paid $17,800 for Acorn’s name and web domain and $77,000 for its “total business enterprise system,” which includes the shop’s book of business and client graphics, the article says.
iSign President Sam Morgan told the outlet that the company’s plan for Acorn is to keep it in Richmond. Two former Acorn employees are already working at the revived shop, which will soon move into a new office.
Acorn declared Chapter 7 bankruptcy in February following a drawn-out dispute with its largest client, the publicly traded LL Flooring (Henrico, VA). The shop was hired to install new signage as part of LL Flooring’s name change from Lumber Liquidators. A subsequent conflict in which each side claimed money was owed by the other ultimately resulted in Acorn’s closure.
Read more at Richmond BizSense.