35-year-old NASCAR clothing partner files Chapter 7 bankruptcy

Core Insights - SouthPrint, a leading screen print apparel company, unexpectedly filed for Chapter 7 bankruptcy, leaving employees shocked and unaware of the impending closure [2][5][6] Company Overview - SouthPrint, also known as Checkered Flag Sports, is located in Martinsville, Virginia, and was founded in 1991. The company provided full-service contract screen print apparel and was a significant partner in the NASCAR apparel market [4] Bankruptcy Details - The company filed for Chapter 7 bankruptcy protection on February 20, with the formal closure occurring on March 22. The bankruptcy petition indicated assets and liabilities both in the range of $1 million to $10 million, with approximately 100 to 199 creditors [3][6] Employee Reactions - Employees reported a chaotic and heartbreaking scene during the abrupt announcement of the closure, with only about thirty minutes' notice given before they were told to leave [5][6]