Manufacturing Industry
Commerce One considering filing Chapter 11.(Software News)(Brief Article)
Purchasing, November, 2004
Supplier relationship management technology provider Commerce One is considering "significant reduction or discontinuation of our operations, other expense reductions, and/or a sale of all or a portion of our assets." In a recent SEC filing, the company said it is considering filing for Chapter 11 protection and shareholders may see no payout.
The company named Peter Seidenberg as its new chief financial officer in September when its unrestricted cash balance was about $700,000. The company is in discussions with potential buyers of its assets, according to the filing.
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