TheWaggishAmerican
That is unbelievably frustrating that they wouldn't even bother telling the customers, and especially that they do this right in the middle of a massive sale.
Do you happen to know where this was officially disclosed, in case I have to show my bank?
Now you can better understand why Squadron went out of business.
This story emerged around New Years, as Squadron announced their 70%-off sale. A couple of days after that, rumors started that Squadron was closing. The website was updated to a single page that had a message about being unavailable temporarily.
There was never any official word from any officer of the company, such as a CEO or president. Again, nothing but conflicting signs to read, that drove heated speculation and confusion:
The bricks-and-mortar store was still open, and people could pick up orders there, but Squadron made no new sales. Some who placed orders in the 70%-off sale received their purchased items. Some received notifications of their purchase, then received refunds. Others received no word at all.
The clearest indication was a YouTube video of around 45 minutes, from Jef Verswyvel, who did casting for Squadron. In that video, he said they were closing for good.
Then came confirmation that Squadron declared chapter 7 bankruptcy, in the form of publicly-available information from their home county's court, found and shared by people here and on other forums. Chapter 7 is liquidation.
Next, people began receiving letters to let them know that they were among the creditors, with information regarding a conference call in the immediate future, to provide them with information about their options.
Again, at no time did any official officer or representative of the company make any announcement. But that's not surprising, given the poor decisions they've made in their slow decline over the past 10 years or so.
In retrospect, it looks like the "massive sale" was an effort to scrounge some cash, any cash, by moving existing stock.