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From the picture bank
divine spread was too thin
2003-02-19 admin
Divine positioned itself onto the content technologies scene a couple of years ago, with
some acquisitions in the space.
Since then it has been competing neck to neck with other players to carve out its slice in the (pie in the sky?) multimillion revenues market for content management technologies
Last summer it got another cash injection
Investors backing is not always a promise of survival.
This week the company announces that despite efforts over the past several months to minimize operating expenses and various liabilities, and has appointed Broadview International as advisors to assist in exploring strategic options, which may include asset divestitures, comparable transactions, and/or the filing of a voluntary petition under Chapter 11 of the United States Bankruptcy Code.
The company says it iscurrently involved in active discussions regarding the potential sale of several businesses or strategic assets.
"Bankruptcy could be imminent" said a source to the Chicago Sun-Times
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