Just days after laying off more than 100 employees, high-tech football helmet maker Vicis announced Monday that the board of the Seattle startup has voted to place the company into receivership. The action is Vicis’ attempt to find a buyer and satisfy its debts. When a company is placed in receivership, a trustee is legally appointed to oversee its assets and business operations. “This is a difficult but necessary step that gives us the best opportunity to secure a buyer for the company with the goal of ensuring maximum return to shareholders,” Vicis Board Chairman Bruce Montgomery said in a… Read More
Seattle startup Vicis officially eliminated the jobs of more than 100 employees on Friday, including its interim CEO, in the latest sign of problems at the high-tech football helmet maker. Previously, the company had furloughed employees, putting a majority of its 110-person staff on temporary leave while its board explored options including a potential sale. But in an employee webinar on Friday, the company informed employees that they are being officially let go, GeekWire has learned. It’s the most significant sign of problems yet at the startup, which has abruptly run out of cash after raising more than $85 million… Read More
Inside the lobby of Vicis‘ headquarters in Seattle this week, floor-to-ceiling images on the walls showed young football players wearing the company’s high-tech helmet. A portrait of former Seattle Seahawks star Doug Baldwin loomed behind a reception desk. The slogan “Protect the Athlete, Elevate the Game” was stenciled next to a lighted display case with two helmets. But it was unusually quiet. Not much work was getting done. That’s because Vicis recently furloughed a majority of its 110-person team, leaving a skeleton crew of 12 employees this week. Now the fate of the company is in the air. The one-time… Read More
High-tech football helmet maker Vicis today announced a soft helmet for use during practices, 7-on-7 and flag football. The Ultim cap is designed to protect players from head injuries when full pads and hard helmets aren’t being used. Vicis CEO and co-founder Dave Marver said the new headgear is a response to research showing that both flag and tackle football have similar injury rates. “We’re committed to football as a sport. We want the kids who play it to have the best access whatever form,” he told GeekWire. Even though it just hit the market, the Ultim cap already earned… Read More
Football is still America’s game in American high schools, drawing more than a million athletes each year. But concerns over the lasting effects of concussions have caused youth participation in the sport to dip in recent years. Vicis, a Seattle startup, wants to help preserve the game for younger athletes with a high-tech helmet that recently ranked first in Virginia Tech’s inaugural youth football helmet safety ratings. But many programs are finding it difficult to pay the $495 price tag, sparking questions of fairness: should the safest helmet only be available to those who can afford it? Five Seattle-area high… Read More
