Springbok Services bankruptcy filing 0
Denver Based Springbok Services has a meeting of its creditors set on July 26th to decide on the filing procedure and decide on its future plan of action. The prepaid card provider had filed for a Chapter 11 bankruptcy protection on June 18th in Denver. It has mentioned a total of $35.9 million in debt nad owes about $15 million to Clevland based Key-Corp.
It is a 13 year old company that specializes in prepaid debit cards for employees and as gift vouchers. Many employees have been laid off except a few core employees who are needed to run the existing customers. Many of the banks that were issuing cards from Springbok Services Inc has stopped and will continue servicing those cards that are already active. The total number of creditors exceed 1000 and its anybody’s guess where is the meeting going for.
subscribe to comments RSS
There are no comments for this post