IceCap Suspends Operations, Hoping to Restructure

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IceCap Inc. Logo

Some time back, we discussed the shaky future of IceCap Inc. We knew something was going on behind the scenes, but wrote off most of the rumors as speculation. Some IceCap customers were able to get through to the company via phone and/or email, while others couldn’t get in touch with anyone. Many were claiming the company was going through a minor bump in the road and would shortly resume business as usual. All the while, others were claiming IceCap was done for.

With the recent release of a grim email from the aquarium lighting manufacturer, all the speculation has come to a close. Chuck Troiani of IceCap contacted customers, telling us all that they have suspended operations, effectively closing their doors for the time being. A small glimmer of hope is expressed in the email as Chuck states “we are aggressively and actively seeking opportunities to keep the IceCap brand viable in the markets and with the customers we have served over the past 20 years”.

I wish the best of luck to IceCap during this trying time. We certainly hope that through this restructuring process, the company will emerge better and stronger than ever.

Continue reading below for the email sent out to IceCap Inc. customers.

Dear Valued Customer,

First, I would like to extend a Happy Holidays and Merry Christmas to you, your family, and employees. I know this comes somewhat bitter sweet as many of you have attempted recently to contact IceCap, Inc. with little to no success. For that I am truly sorry.

IceCap, Inc. has been around for about 20 years and many of you have been dedicated and loyal customers of IceCap, Inc. through the ups and downs over the years. Unfortunately, we finally hit a trough in our business cycle due to several factors that impaired this business to the point where we could not and can not recover. Therefore, by the direction of the IceCap, Inc. Board of Directors we have suspended operations.

What this means is we are aggressively and actively seeking opportunities to keep the IceCap brand viable in the markets and with the customers we have served over the past 20 years. In doing so, we expect to bring closure to this process within 60 days and plan to align the new management team, investors, and/or owners with our valued customers in hopes this continuation of business and the relationship with the IceCap brand will mitigate the effects of recent events.

In the interim, please direct all inquiries to chuck.troiani@icecapinc.com. Please allow 48 hours for a response depending on the e-mail volume. Thank you!

Again, my apologies for the situation.

Regards,
Chuck Troiani
IceCap, Inc.

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  • Chuck Troiani

    Dear Salt Water Aquarium Enthusiast,
    IceCap, inc. is not out of business but has idled its operations to assess a path forward. There are those in the industry that would like to see the demise of IceCap, Inc. to profit from the absorption of IceCap’s customers and to provide me-to products they will have readily available. If IceCap fails, the Salt Water enthusiast with IceCap products will be hurt in the end as they will have to purchase a different brand of product and/or not get service.
    To the benefit of the enthusiast, if IceCap fails I will disclose all product cost information about IceCap’s and similar products in the industry and the associated mark-ups. I will expose the suto-white knights that artificially showed interest to acquire IceCap only to turn their backs to wait for a demise to feed off the opportunity of desperate customers. I will gladly share this information to allow the enthusiast to leverage pricing and cost knowledge to assert pressure on retailers, distributors, and manufacturers to gain a better consumer pricing advantage for an expensive venture.

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