| 词条 | Pyro-Magnetics Corporation |
| 释义 |
InsolvencyIn late 1982 the corporation sold its two operating units to pay debts and after the sale few of its employees remained. The Pyro-Magnetics Corporation filed for Chapter 7 bankruptcy at a federal bankruptcy court in Whitman, in April 1983. Prior to this the firm embarked on an unsuccessful attempt to raise cash by developing commercial applications for its high-temperature melting technology. It failed to have enough funds to prepare and file an annual report with the Securities and Exchange Commission in the spring of 1983. The Pyro-Magnetics Corporation reported a loss of $71,093 in the first quarter of 1982 compared to an annual loss of $198,862 for the entire year of 1981.[2] References1. ^Pyro-Magnetics Processor, Wall Street Journal, June 23, 1982, pg. 24. 2. ^1 Pyro-Magnetics Corp. Files for Chapter 7 Of Bankruptcy Code, Wall Street Journal, April 19, 1983, pg. 45. 6 : Companies based in Massachusetts|Waste organizations|Manufacturing companies disestablished in 1983|Defunct manufacturing companies of the United States|Defunct companies based in Massachusetts|Companies that have filed for Chapter 7 bankruptcy |
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