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Clearwater computer software firm files for bankruptcy

Enterprise Management Solutions, a Clearwater computer software company with 20 employees, filed for Chapter 11 bankruptcy this week. In a filing with federal bankruptcy court, owner Adam Alonso blamed Bank of America for refusing to restructure loans totaling $759,510. Alonso said his credit troubles occurred as he was trying to sell the company to BMC Software, based in Houston. Enterprise reported $7-million in revenue last year. Aside from the bank loan, it said it owes creditors $2.6-million.

Clearwater computer software firm files for bankruptcy 01/20/09 [Last modified: Tuesday, January 20, 2009 7:32pm]
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