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Smart Parts Is Not Coming Back Smart Parts has long been one of the leading paintball companies and it surprised many when it originally started with "corporate restructuring" earlier this year. Now, though, it appears they have filed for Chapter 7 bankruptcy. For those of you unfamiliar with bankruptcy, Chapter 11 is when a company tries to refinance and modify their debts and Chapter 7 is when a company is going to liquidate all of its assets. With this announcement, all of Smart Parts tools, equipment, patents and property will be auctioned or sold off.This means we will never see the old Smart Parts again. That doesn't mean, though, we won't see a similar Smart Parts-type company in the future. Another company could buy the assets of Smart Parts and use its patents and intellectual property to make the same or similar equipment. Or, the founders of Smart Parts could form a different paintball company and create new equipment. We'll just have to wait and see.Smart Parts Is Not Coming Back originally appeared on About.com Paintball on Wednesday, July 28th, 2010 at 22:14:00.Permalink | Comment | Email this paintball.about.com |