Broadview Networks Files for Chapter 11

Broadview Networks Holdings Inc. has reportedly filed for prepackaged Chapter 11 bankruptcy. According to reports, the business filed an application that is agreed on among creditors and shareholders. It is also designed to reduce the time needed for the applicant’s financial reorganization. In the bankruptcy filing, the business reportedly listed assets at about $258.3 million while liabilities were at about $373.4 million.

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