Monday, June 21, 2004

CrossGen post-mortem: Newsarama catches up on this weekend's news that CrossGen has filed Chapter 11 bankruptcy:

"Chapter 11 protection allows for the business to continue operating while it reorganizes its financial picture, keeping the business alive, while paying off creditors over time. Sources reported to Newsarama that CrossGen founder Mark Alessi hopes to find investors to bring the company out of Chapter 11 and relaunch at a later date. Reportedly, many inside CrossGen advised Alessi to file Chapter 11 months ago."