GlassHouse Technologies Files Chapter 7 Bankruptcy

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GlassHouse Technologies, a venture-backed data center services provider headquartered in Southboro, Massachusetts, has filed Chapter 7 bankruptcy. The company, which had twice withdrawn plans for an IPO (Initial Public Offering), listed less than $1 million in assets but an overwhelming $50 million to $100 million in debt. According to an article in the Boston Herald by Donna Goodison, GlassHouse had raised approximately $91.3 million in venture funding from such investors as Kodiak Venture Partners, GrandBanks Capital, and Globespan Capital Partners, since its start in 2001. “GlassHouse shelved plans in 2011 for a $75 million IPO filed the year before, citing an uncertain economic climate. It also withdrew its first 2007 filing for a $100 million IPO in 2009,” the article reports. The Chapter 7 bankruptcy filing comes just two months after Signature Technology Group bought its U.S. consulting division for undisclosed terms. A British subsidiary of GlassHouse also faced financial troubles over unpaid value-added taxes before receivers were called in this spring, cite published reports. For experienced and knowledgeable Chapter 7 or Chapter 13 personal bankruptcy assistance, trust the attorneys from Client First Bankruptcy who have helped thousands of satisfied clients discharge their debt. For your free initial phone consultation, please call our knowledgeable and compassionate lawyers toll-free Monday through Friday from 8:30 a.m.-6:00 p.m. Central Time at 800-383-6004.  And you can log onto www.clientfirstbankruptcy.com for vital and timely bankruptcy information 24/7 so you can get the information you need at your convenience. You and your family deserve to live without overwhelming debt hanging over your head. Call us; talk to us; we may be able to help you and your loved ones get out from under the burden of overwhelming debt.

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Audioplex Technology Inc. Files Chapter 7 Bankruptcy in New Hampshire

Written by CFB Blogger. Posted in Blog

Audioplex Technology Inc., maker of multi-room audio products, has recently filed Chapter 7 bankruptcy in the District of New Hampshire. The company, whose principals in the Chapter 7 bankruptcy are Ronald and Nancy Ingham, lists almost $802,000 in assets and $625,000 in liabilities, including $454,000 in secured claims by Bayview Loan Servicing, holder of two mortgages on the company’s Tuftonboro, New Hampshire, facilities, reports Julie Jacobson on www.cepro.com. Other major creditors are two credit card companies and the law firm of McLane, Graf, Raulerson & Middleton. As part of the Chapter 7 bankruptcy, Audioplex will liquidate approximately $260,000 in inventory, including speaker selectors, wallplates, volume controls and IR distribution products. For experienced and knowledgeable Chapter 7 or Chapter 13 personal bankruptcy assistance, you can rely on the attorneys from Client First Bankruptcy who have helped thousands of satisfied clients discharge their overwhelming debt. For your free initial consultation, please call our knowledgeable and compassionate lawyers toll-free at 800-383-6004.  We answer our phones Monday-Friday from 8:30 a.m. – 6:00 p.m. Central Time. And log onto www.clientfirstbankruptcy.com for vital and timely bankruptcy information 24/7 so you can get the information you need at your convenience. Please give us a call; maybe we can turn your financial woes into financial success. You and your loved ones deserve a secure future…call us.

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