is 11.
While,this should all turn out positive in the long term, it's still a little unnerving when your company files for bankruptcy protection.
As things stand right now, I should be fine.
The filing is for the U.S. Company and some domestic subsidiaries only.
All of the operations in other countries are not included in the filing and don't need to be.
Operationally, the business is in excellent shape. It's old debt that's killing us.
Old debt based on an old business in which we are no longer operating (technically speaking).
A positive point would be that we were smart enough to transform rather than try to hang on to that old model.
Still, this latest move comes after failed attempts to make some deals that didn't seem to be great ideas in the first place. That's what worries me the most.
Hopefully they have a good plan in place and we get through it quickly. In the meantime, I'll have to spend more time explaining the business to my customer base than explaining technology. Yay.
While,this should all turn out positive in the long term, it's still a little unnerving when your company files for bankruptcy protection.
As things stand right now, I should be fine.
The filing is for the U.S. Company and some domestic subsidiaries only.
All of the operations in other countries are not included in the filing and don't need to be.
Operationally, the business is in excellent shape. It's old debt that's killing us.
Old debt based on an old business in which we are no longer operating (technically speaking).
A positive point would be that we were smart enough to transform rather than try to hang on to that old model.
Still, this latest move comes after failed attempts to make some deals that didn't seem to be great ideas in the first place. That's what worries me the most.
Hopefully they have a good plan in place and we get through it quickly. In the meantime, I'll have to spend more time explaining the business to my customer base than explaining technology. Yay.