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Nobody was that surprised when EV maker Think Global drove off into the Chapter 11 sunset, but now it's towed an even bigger company along with it. Ener1 invested heavily in Think and also manufactured the lithium-ion batteries for its cars, but all it got in return was a lethal $69 million hole in...

January 31st 2012 at 12:26pm 0 Comments
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It's only January 10th and Kodak's already having a terrible year: six days ago the beloved photography company was preparing for Chapter 11, but today its stock price leapt by 45 percent (and counting). The cause? The announcement of a new plan intended to pull the troubled company into the 21...

January 10th 2012 at 5:03pm 0 Comments
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Teetering no longer. According to Reuters, satellite phone maker TerreStar has filed for Chapter 11 bankruptcy to protect itself from liabilities in the range of $1.6 billion. As expected, a restructuring is in order, with Blackstone Group LP providing financial advice for such a move. One of TerreS...

October 19th 2010 at 11:19pm 0 Comments
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Okay, look, guys -- we know putting a satellite into space is a pricey endeavor -- just ask Sirius XM -- but you literally just launched your first commercial device, the Genus, and we don't think that "launch a device then immediately declare bankruptcy" is a particularly sound business model. The...

October 18th 2010 at 1:57pm 0 Comments
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This one's been expected and rumored for a long time. Now it's official: Blockbuster has initiated "pre-arranged" chapter 11 proceedings. Under the plan, Blockbuster's debt would be reduced from $1 billion to about $100 million when implemented. The press release states that Blockbuster is currentl...

September 23rd 2010 at 6:44am 0 Comments
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It's not official, but rumor that Blockbuster is preparing to file for bankruptcy in September is certainly believable. Expected even. According to several sources speaking to the Los Angeles Times, Blockbuster chief executive Jim Keyes along with representation from Blockbuster's senior debt holde...

August 27th 2010 at 1:48am 0 Comments
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It isn't throwing in the towel just yet, but things don't seem to be looking good for Netherlands-based iRex Technologies -- CEO Hans Brons has just announced that the company has been forced to file for Chapter 11 bankruptcy protection amid a string of problems that's led to "financial difficultie...

June 10th 2010 at 6:08pm 0 Comments
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We always knew that any company courageous enough to take a technology designed to help mega-corps monitor their inventory levels and make it mainstream would face an uphill battle, but we never envisioned Nabaztag caving entirely to the pressure. If a snippet in a recent issue of Les Echos (a Fren...

August 11th 2009 at 2:27am 0 Comments
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Ugh. Another one bites the gently gnashed rock particles, as they say. Polymer Vision, which was already having some pretty significant cash flow issues back in April, has reportedly caved under pressure and sought shelter under Chapter 11. According to the Hampshire Chronicle, the company famous f...

July 18th 2009 at 2:02pm 0 Comments
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Everybody's favorite fuzzy little Apple clone maker is back from Chapter 11 bankruptcy protection (we're still waiting on that revelatory outing of creditors that Apple is so hungry for), and already has a new product in the offering. Psystar's new Open(7) hardware runs Intel Nehalem Xeon, which sh...

July 2nd 2009 at 11:16am 0 Comments