Drone Distributor WYNIT files Chapter 11

[Rayray]

According to court docs filed, WYNIT owes DJI almost $10 million, and Yuneec about $7.2 million.
Certainly not good news for the drone industry. The filing came without prior warning.

WYNIT files Ch. 11 bankruptcy, owes at least $106 million

 

[Wingshooter]

You think there will be a Clearance Sale?

 

[AH-1G]

Wow! "$108 million in outstanding accounts receivable, Richichi said Wynit generated $1.1 billion in gross revenue last year and profits of about $18 million". Inventory is a killer also 90 mil, ouch!