Sindel Announces Restructuring
IT services and technology solutions company reorganizes for better cash flow, growth opportunities.
Phoenix, AZ (PRWEB) June 30, 2009 -- Tempe based Sindel, Inc. announced today a companywide restructuring to realign resources for future growth.
Companies in high growth industries like IT often find themselves in a position where they are unable to address their need for growth capital through traditional means; Sindel, Inc. is no exception, and as a result, Sindel has turned to a lender who has seen Sindel's potential and has agreed to supply financing to the company for growth. Sindel is fortunate because a client of 16 years has formed an entity which has committed to loan them funds to help them achieve their vision and grow the company to the future.
In this transaction, to protect the assets of Sindel and the assets of their investors, they have filed for chapter 11 bankruptcy. The restructuring will not impact Sindel's day-to-day operations or affect the quality of services. "This is purely an internal restructuring; our business will continue to operate normally during this process, and continue to provide the highest quality of service to our clients." said President and CEO Sindi Major-Martinez.
Underperforming pieces of the company will be eliminated which will allow Sindel to avoid layoffs, furloughs or salary cuts. As a result of the restructuring Sindel will be adding three new engineering positions and will retain original leadership.
For more information, visit www.sindel.com.
About Sindel, Inc.
Based in Tempe, Ariz., Sindel, Inc. is an award-winning provider of information infrastructure technology and solutions. For more than 16 years, Sindel has been creating solutions that enable businesses and organizations to transform themselves by leveraging their technology. Additional information about Sindel can be found online at www.sindel.com or by calling 480-968-5006.
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