Technology Industry
Industry: Email Alert RSS FeedArch stakeholders file for Chapter 11. (Business).
RCR Wireless News, November, 2001
WESTBOROUGH, Mass.--A group of Arch Wireless Inc. stakeholders moved to spur the company's restructuring by filing for an involuntary Chapter 11 bankruptcy. Arch has until Nov. 29 to respond to the filing.
Certain holders of 12.75-percent notes in Arch's AWCI business unit made the move on Nov. 9. AWCI, or Arch Wireless Communications Inc., is one of Arch's business units. AWCI doesn't have any employees and it doesn't operate any of Arch's networks.
Bob Lougee, Arch's vice president of corporate communications and investor relations, said Arch has three options. The company could contest the filing, agree to an involuntary filing or convert the involuntary filing into a voluntary filing for bankruptcy.
Either way, "Arch will be...
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