Flash memory company Spansion files for bankruptcy in an effort to restructure $625M debt
Sunday March 1, 2009, 7:45 pm EST
SUNNYVALE, Calif. (AP) -- Struggling flash memory maker Spansion Inc. and its U.S. subsidiaries filed for Chapter 11 bankruptcy protection Sunday, in an effort to restructure $625 million worth of debt as the company continues to explore a possible sale or other alternatives.
The news comes a week after Spansion, one of the world's largest makers of chips used in digital cameras, cell phones and high-definition televisions, said it would slash its global work force by 35 percent, or 3,000 employees.
http://finance.yahoo.com/news/Flash-memory-company-Spansion-apf-14505740.html
No comments:
Post a Comment