woodswise
TID Board Of Directors
- Apr 29, 2012
- 4,334
- 1,340
They filed for bankruptcy so it will be sold off as assets but probably not at small scale.
If they're in bankruptcy it will take a long time, at least a year, and depending on how large the corporation is, maybe a few years to complete the bankruptcy. The news report I found said they are reorganizing under chapter 11 which means they will be trying to work out a deal with their creditors to stay open and re-finance their debts instead of liquidating. If liquidation occurs it will only be because they change their minds, or their judge sides with creditors who may prefer everything be liquidated.