Exodus Communications.(Exodus Communications Inc. filed for Chapter 11 bankruptcy)(Brief Article)(Statistical Data Included)

Multichannel News, October, 2001

SAN JOSE, CALIF. -- After months of rumors, struggling Web-hosting company Exodus Communications Inc. last week filed for Chapter 11 bankruptcy as it tries to reorganize. The filing in U.S. Bankruptcy Court in Wilmington, Del., claims that Exodus has a little less than $5 billion in assets and $4.5 billion in liabilities.

Caught when its aggressive growth plan was slammed by the Internet bust, Exodus saw its stock price crash from an $86 high to just 17 cents when trading was halted last week. One bright note comes from GE Capital, which has kicked in up to $200 million in debtor-in-possession financing to keep operations going.