Mango Moon files Chapter 11
Island apparel manufacturer and retailer Mango Moon Inc. sought Chapter 11 bankruptcy protection Monday.
The company, a University of Hawai'i football sponsor that outfits coach June Jones with aloha shirts for games, will continue normal business while reorganizing its finances.
Mango Moon counsel Grant Kidani said the filing was necessary to work out a payment plan with one creditor following cash-flow troubles stemming from a Sept. 11 sales slowdown and bankruptcies of such Mango Moon customers as Kmart and American Classic Voyages.
Hotel honors Sen. Inouye
Marriott International yesterday presented its annual International Tourism Leadership Award for 2002 to Hawai'i's Sen. Dan Inouye.
The award, presented by Ed Fuller, Marriott president and managing director of international lodging, recognizes what it called Inouye's support of responsible and sustainable tourism in Hawai'i and the tourism industry in general.
Previous recipients include Costa Rica for its efforts in responsibly promoting eco-tourism (1977) and Great Britain's Prince Charles for his global role in fostering environmental preservation (1998).
Cyanotech reports loss
Cyanotech Corp., the Big Island maker of BioAstin and other products from micro-algae, reported a net loss of $540,000, or 3 cents per diluted share, in the three months ended Sept. 30.
That compared with a net loss of $509,000, or 3 cents per share, in the same period a year ago.
The Kailua, Kona-based company said net sales were $2.02 million, up from $1.95 million a year ago.