On September 22, 2022, Compute North initiated voluntary chapter 11 proceedings to provide the Company with the opportunity to stabilize its business and implement a comprehensive restructuring process that will enable us to continue servicing our customers and partners and make the necessary investments to achieve our strategic objectives. To implement the restructuring, the Company and its subsidiaries filed voluntary petitions for reorganization under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of Texas.
Q & A
|Why did Compute North choose to use the Chapter 11 process?|
|By filing for Chapter 11, the Company believes that this will enable us to become an even stronger partner and employer, and that we will be better positioned to continue providing industry-leading, sustainable data center solutions for years to come.|
|What does this mean for Compute North's facilities?|
|All Compute North facilities will continue operating as normal.|
|What is Chapter 11?|
|Chapter 11 is the part of the U.S. Bankruptcy Code that outlines an orderly restructuring process that allows companies to operate in the normal course while addressing financial concerns. Importantly, this is not a liquidation proceeding — the Company is open for business and operating as usual.
|If I have additional questions, who can I contact?|
Case Information: Court filings and other documents related to the chapter 11 process are available on a separate website administered by Compute North’s claims agent, Epiq, at https://dm.epiq11.com/ComputeNorthHoldings
Media: For media inquiries, please contact email@example.com
Vendors/Suppliers: Please feel free to contact our team at firstname.lastname@example.org or 855.534.3283
Customers: We continue to provide services to our customers as normal. If you have additional questions, you can contact your account manager by calling 855.534.3283 or emailing email@example.com.