Topo Designs cofounder Mark Hansen has departed his apparel company, putting an end to an ownership deadlock that nearly threw the business into receivership and insolvency.

“Topo is grateful for the 18-plus years of service provided by its cofounder, Mark Hansen,” that company told BusinessDen on Friday. “...With this most recent evolution of Topo, Hansen has completed his service to the company, and has exited the board” of directors.

"I’m very sad to have been forced out of the company I helped build but it was clear that they have more money than I as a founder do — and money wins," he said of investors Gart Capital Partners.

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