On June 22, 2010, the Susan G. Komen Breast Cancer Foundation filed a Proof of Claim against Signature Apparel Group, LLC in the amount of $18,000.
The Proof of Claim states that Signature Apparel failed to abide by it’s Marketing Agreement to the tune of $18,000.
The Marketing Agreement states that Signature Apparel was to pay the Susan G Komen Foundation 10% of sales on certain shirts with pink logos and/or insignia for a guaranteed donation of $18,000. Signature Apparel failed to make the guaranteed payment to Susan G Komen Foundation.
In fact, what the Susan G Komen Foundation did not know is that Signature Apparel was being stripped of all it’s assets as alleged by the US Trustee and less than 2 months after entering into the Marketing Agreement with the Komen Foundation, creditors asked the Court’s to stop Signature Apparel from defrauding further creditors.