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    No WARNing of bankruptcy?
    2014-04-05

    When Reston-based Simplexity, LLC (known more commonly as Wirefly.com and its related sites) recently filed for chapter 11 bankruptcy it had, sadly, already terminated nearly its entire workforce.  According to pleadings filed in the case, Simplexity had hoped to market and sell its assets outside of bankruptcy in order to maximize creditor recovery and preserve the jobs of its employees.   Instead, its liquidity reached such a critical level that it was forced to cease operations on March 12 and file for bankruptcy protection on March 16, 2014.  Just one day later, on M

    Filed under:
    USA, Employment & Labor, Insolvency & Restructuring, Litigation, Bean Kinney & Korman PC, Bankruptcy, Worker Adjustment and Retraining Notification Act 1988 (USA), United States bankruptcy court
    Authors:
    Andrea Campbell Davison
    Location:
    USA
    Firm:
    Bean Kinney & Korman PC
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