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Four years ago, Dublin businessman Victor E. Steinfels thought he would hit pay dirt with a novelty football helmet mug concept called the Teammug, developed by his Vesmont Management Group Inc.
But now that four vendors are trying to force Vesmont out of business and to recover more than $250,000 in alleged debt, it appears as if Vesmont and the Teammug are headed toward the sideline.
Steinfels said he does not plan to oppose an involuntary liquidation proceeding filed against Vesmont earlier this month. The former vice president and vice chairman of Cardinal Industries Inc. blames a cash-flow shortage for the debts and his company's pending demise.