What happened to Padded Cell?
In lieu of recent misinformation and internet speculation, we would like to take this opportunity to clear the air on what happened between Odyssey and our former UK distributor, Padded Cell. In September 2006, Padded Cell’s parent company, Cool Brands LTD, then Hi-Gear LTD, began to default on payments. In an attempt to help keep Padded Cell supplied, an exception was made to our customary “upfront payment rule and Cool Brands was offered 60 day terms. As time moved on, Cool Brands continued to default on payments and a substantial six-figure US dollar debt began to build. In mid-2007, we expressed interest in looking for a second, non-exclusive, UK distributor, hoping that this would assist Cool Brands by relieving some of the financial pressures that they were dealing with. However, the option of allowing a second distributor was quickly denied by Cool Brands, who chose instead to close Padded Cell, using the return delivery of their existing Odyssey inventory to balance the ledger
