Competitor files for Chapter 11 Bankruptcy Protection
Bloomberg posted an article on my birthday annoucing that NetVersant (one of the competitors in my employers space) filed for Chapter 11 Bankruptcy protection.
Obviously they’re not out for the count, but in this tightening market and continuing recession, this is an opportunity for all of NetVersant’s competitors. To the best of my knowledge, this is the first large Nortel Telecom distributor that has filed any Bankruptcy papers (although Black Box was NextiraOne recently, and before that they were Williams Communications… and Shared Technologies has traded hands about 4 times in the last 9 or so years… Intermedia, MCIWorldcom, Allegiance Telecom and now privately owned.)
It’s been tough for all Nortel Telecom distributors in the last few years (for a number of reasons).
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