Two creditors of NaviSite Inc., a provider of managed hosting and related services, filed to put the company into Chapter 7 bankruptcy.
Chapter 7 usually leads to liquidation.
The move against Andover, Mass.-based NaviSite came from Optaros Inc. of Boston and TIBCO Software Inc. of Palo Alto, Calif.
Creditors say they are owed a combined $6.4 million.
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NaviSite Corrects Erroneous Information on Bankruptcy.
07-14-2009
NaviSite was mentioned today in an article of the Boston Business Journal which incorrectly stated that two of NaviSite’s creditors have filed to put the company into Chapter 7 bankruptcy. The article was erroneous and the Boston Business Journal has agreed to retract the incorrect story.
NaviSite is working with Optaros Inc. of Boston and TIBCO Software to put a former customer of the companies into Ch 7 bankruptcy. This former customer went out of business in early 2008 and NaviSite is working with other creditors to ensure proper recovery of the remaining assets.
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