UPDATE 1-MPC files for bankruptcy protection
NEW YORK, Nov 7 (Reuters) - MPC Corp MPCC.PK, a seller of personal computers, filed for Chapter 11 bankruptcy protection on Friday, saying that unforeseen issues at integrating an acquisition and other manufacturing changes caused extensive losses.
The company, based in Nampa, Idaho, said that it evaluated strategic alternatives before deciding to file. Its stock and warrants were delisted from the New York Stock Exchange Alternext US LLC exchange effective Nov. 4.
MPC, a PC vendor since 1991, sold business technology hardware to mid-sized business, government agencies and education organizations. In October 2007, it purchased the professional business unit of PC company Gateway, which itself was bought by Acer (2353.TW) last year.
MPC said it did not foresee any distribution to equity holders in conjunction with the bankruptcy case. Focus Management Group USA is financial adviser and Reed Smith LLP will represent the company in connection with the bankruptcy case. (Reporting by Caroline Humer; Editing by Steve Orlofsky)
© Thomson Reuters 2009 All rights reserved
Wall St meets "The Sopranos"
Details of an alleged insider trading ring read like the script of a mobster drama, full of coded nicknames, disposable cell phones and paranoia about informants. But in the end, all of the precautions were for naught. Full Article

