AM Files Chapter 11
AM Communications Inc., one of the cable industry's oldest technology
vendors, filed for Chapter 11 bankruptcy protection Friday morning.
The company appealed for protection after exploring several financial-reorganization and restructuring options during the past few months.
Under Chapter 11 protection, AM plans to sell some technology assets and
reorganize with up to $9 million of debtor-in-possession financing provided by
LaSalle Business Credit LLC.
No layoff plans were announced, and executives maintained that business will
continue status quo.
"We will strive to move through the bankruptcy process as quickly and as
seamlessly as possible," AM CEO Lawrence Mitchell said in a prepared statement.
"We fully expect to continue to meet our customers' needs and provide the high
level of service that our customers expect."
AM supplies network-reliability-solution software for hybrid
fiber-coaxial broadband topology.
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