Addvantage Technologies Group (AEY) has released an update to notify the public and investors about its debt resolution strategies.
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ADDvantage Technologies Group, Inc. and its subsidiaries, including Fulton Technologies, Inc., Nave Communications Company, and ADDvantage Triton, LLC, filed for Chapter 7 bankruptcy on January 31, 2024, after ceasing operations on January 26, 2024. The filings occurred in the United States Bankruptcy Court for the Eastern District of Texas. A Chapter 7 trustee will be appointed to take control of the companies’ assets and liabilities, with the board and executive officers losing their authority. The assets will be liquidated to pay claims as per the Bankruptcy Code.
For further insights into AEY financials, check out TipRanks’ Financials page.
For a comprehensive understanding of the announcement, you can read the full document here.
