Continental Promotion seeks bankruptcy protection after layoff
Tampa Bay Business Journal - by Michael Hinman
Just a day after it handed out pink slips to 17 employees, CPG Marketing Inc. and Continental Promotion Group Inc. of Tampa have filed for Chapter 11 bankruptcy protection Friday.
The companies both list an Eisenhower Boulevard office as their address, and both have Daniel Granger as its chief executive. Continental Promotion lists assets of between $1 million and $10 million, and liabilities in the same range from between 200 and 999 creditors. CPG Marketing listed estimated assets of $1 million to $10 million, and liabilities of between $10 million and $50 million, with up to 50 creditors.
Continental Promotion told Florida Agency for Workforce Innovation Thursday it would lay off 17 people by Nov. 19. It’s unclear how many employees Continental and CPG had, and a call to the company’s media contact, Amy Harich, was pending return Friday.
Continental Promotion touts itself on its Web site as a promotional management services provider, interacting with more than 30 million consumers annually through manufacturer- and retailer-driven promotions, according to press releases from the company.
Last May, Continental Promotion said it won a preliminary injunction from a U.S. District Court in Arizona enforcing a non-compete clause of Samuel Garvin that restricted him from competing with Continental Promotion or solicit the firm’s customers or employees for three years following his sale of Continental Promotion to CPG in 2005. The non-compete, according to a press release by Continental Promotion, prohibited Garvin from processing and fulfilling rebates, gift cards and other promotional items, among other activities through two companies known as Garvin Promotion Group LLC and Giftcard Loyalty Reward Solutions LLC.
Continental Promotion claims more than 500 national and international clients in 120 countries with offices in Tampa; Tempe, Ariz.; Toronto; and Tipperary, Ireland.
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