Quote:
Originally Posted by Chrysalis
Are they now winding the company up? Seems a harsh decision, but not surprised given how we give up so easy in this country.
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No, they’re headquartered in the US which means they’re able to use the ‘Chapter 11’ bankruptcy procedure. The aim of it is to admit you’re bankrupt while preventing your creditors demanding their money back. It gives you breathing space to restructure your business and attract new investment.