Football helmet producer Vicis, a University of Washington spinout, has succumbed to cash pressures despite previously raising $85m in funding.
Vicis, a US-based insulated football helmet producer spun out of University of Washington, has opted to enter receivership in a bid to clear its debts under new ownership, GeekWire has reported.
Vicis is thought to have lured two rescue bids from investors, though nothing concrete has so far materialised. Eric Orse, president of financial services firm Orse & Co, has been legally appointed as the receiver for the business.
Founded in 2013, Vicis markets a protective helmet for…
