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Files for Chapter 11 protection in the U.S. and intensifies focus on profitable segments
March 1, 2009
By: DAVID SAVASTANO
Editor, Ink World Magazine
Spansion Inc. filed a voluntary petition for reorganization under chapter 11 of the U.S. Bankruptcy Code as part of its strategy to strengthen its financial position and focus its business for long-term success. The company’s strategic plan is designed to restructure its burdensome debt obligations and intensify its focus on market segments with greater profit potential. Each of Spansion’s domestic subsidiaries also simultaneously filed chapter 11 petitions. “Given our focus...
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