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© filipefrazao84 dreamstime.com_ Electronics Production | October 12, 2015

CRS Electronics defaults, all workers laid off

CRS Electronics Inc., a developer and manufacturer of LED lighting products, has informed it is in default of its loan agreement with Divinci Private Debt Fund.
The loan amount is USD 1'000'000 at 18% for a total of USD 1'014'559.08. While coordinating next steps with Divinci Private Debt, CRS Electronics has laid off all workers.

Scott Riesebosch resigned from the Board of Directors but remains as the company's Chief Technology Officer.
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December 12 2018 2:03 am V11.10.8-2