Denver-based luxury vacation travel company Inspirato said Tuesday it cut 15% of its workforce in conjunction with a $10 million capital infusion from a private equity firm.
Brent Handler, a founder of vacation club Inspirato, showed off his brand new office space in Lodo in Denver in February 2011.One Planet Group LLC, founded by tech entrepreneur and investor Payam Zamani, agreed to invest $10 million in return for 2.9 million shares of common stock and a similar number of warrants.and replace Brad Handler as chairman, a role Handler has held since he founded the company with his brother Brent in 2010.
“While the decision to reduce our workforce was not easy, I’m grateful for the hard work and dedication of the entire team and am confident that under Payam Zamani’s leadership, Inspirato will continue to provide a world-class travel experience to its members for years to come,” David Kallery, president of Inspirato, said in a news release.The U.S.
The company’s share price has dropped so low that it faced a delisting from the Nasdaq stock exchange, but earlier this month Inspirato said it received a reprieve until Nov. 22 to comply with listing requirements.Broncos stock report: Rookie wide receiver Troy Franklin's troubling start continues in preseason opener
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