AM Communications Inc., one of the cable industry's oldest technology
vendors, filed for Chapter 11 bankruptcy protection Friday morning.
The company appealed for protection after exploring several financial
reorganization and restructuring options the last few months.
Under Chapter 11 protection, AM plans to sell some technology assets and
reorganize with up to $9 million of debtor-in-possession financing provided by
LaSalle Business Creddit LLC.
No layoff plans were announced, and executives maintained that business will
continue status quo.
'We will strive to move through the bankruptcy process as quickly and as
seamlessly as possible,' said AM CEO Lawrence Mitchell in a prepared statement.
'We fully expect to continue to meet our customers' needs and provide the high
level of service that our customers expect.'
AM Communications supplies network reliability solution software for hybrid
fiber-coax broadband topology.