Entellium Files for Bankruptcy

Many thanks to John Cook for the latest news on Entellium on TechFlash.com

Entellium, whose top two executives were charged with wire fraud in early October, today filed for Chapter 11 bankruptcy protection as it looks to sell its assets. The filing was anticipated at the embattled Seattle Internet company in advance of a possible sale to Intuit, which has agreed to pay $7.6 million for the assets.

The bankruptcy filing lists assets of $37.7 million and total liabilities of $12.7 million.

“We are doing our best to get the best value we can out of the assets,” said Gayle Bush, the attorney representing Entellium Corp. in the bankruptcy filing. And while Intuit has made a formal bid and has loaned money to the company to keep it going, Bush said he welcomes offers from other potential bidders.

Related Articles on CRM Help Desk Software.com

• Intuit Offers to Buy Entellium Assets
• Entellium CRM in Trouble?
• Salesboom.com Rescue Initiative for Entellium Customers
• Entellium CEO, CFO Charged with Wire Fraud
• Maximizer Software Offers Discounts to Help Entellium CRM Customers

Recent Articles on CRM Help Desk Software.com

• SugarCRM Brings CRM Thought Leaders Together at SugarCon 2012
• eXtremeCRM 2012 Berlin
• ERP Vendor Shootout
• Heroku Receives InfoWorld’s Technology of the Year Award
• Cloud Portability: OASIS Forms Technical Committee for Open Standards
• Gartner Announces Customer 360 Summit 2012
• Veeva Announces Seamless Integration With Concur
• Real-time Search Set to Revolutionize Contact Center Customer Service
• TeamSupport.com Boosts Business Intelligence with Zoho Reports
• Zendesk Integrates Facebook into Help Desk Software

About CRM Helpdesk Software
CRM HELP DESK Software.com is a leading resource for Information Technology managers and Sales professionals. The Blog provides quality content and research that managers at any size company or organization to choose the right CRM, Service Desk, & Enterprise products and services for their business.