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Globix joins Chapter 11 club

Only last September it said "We're hiring!"

By Tony Hallett on 4 March 2002 16:35

NEWS Web-hosting company Globix has filed for Chapter 11 bankruptcy protection in the US. The move has been expected for some weeks and highlights the weakness of a market which boomed alongside dot-coms. The future of Globix House in London has yet to be decided but the company is likely to give up space to cut overheads. In January, creditors agreed to decrease the company's debt and the interest rate on repayments in exchange for equity.

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