Eternal Image Bankrupt
Eternal Image, Inc is official licensee of Major League Baseball; the Vatican; Precious Moments; KISS; Star Trek; fine Universities; US Marines; Boy Scouts, and more. Well, not anymore.
On April 13, 2012, Aerotek, Inc., Catholic Digest, Waterloo International Funeral Services, Memorial Arts Studio and Covington Box & Packaging, Inc. filed an involuntary petition for liquidation under Chapter 7 against Eternal Image, Inc. in the US Bankruptcy Court for the Eastern District of Michigan. The total claim amount of the petitioning creditors was $0.38 million. The petitioning creditors are represented by Mimi D. Kalish of Stillman Law Office as their legal counsels (source).
There was a hearing scheduled on June 22, 2012 but that hearing was cancelled. There isn’t much information about the details of the involuntary bankruptcy being made public yet. We do have copies of the legal documents filed but are awaiting word on what information out of those documents we are allowed to share.
Here are a few things that we do know:
- Eternal Image claims to have al,ost no assets, and liabilities are upwards of $3.1 million
- Eternal Image president Clint Mytych secured funding of $8,000 from his grandparents to pay the retainer fee for an attorney to prepare documents and represent Eternal Image in the bankruptcy
- EternalImage.net, the companies website is no longer online (see below image)
We have heard from distributors for Eternal Image that product in the past year has been virtually impossible to get, inventory was not existant, and drastic changes had been made to the MLB urns because EI had to switch manufactures after they were cut-off by the previous manufacturer due to unpaid bills.
The MLB products seemed promising when launched in 2008. Eternal Image even secured a 10 minute spot on ESPN’s Outside the Lines.
Once we have more information we will be sure to share, but we have to ask: what did you think of Eternal Image? Did you ever offer their product? What lead to their demise?