Bankruptcy Tracker
Semiconductor Chip Maker Spansion Files For Chapter 11
June 11, 2009
Spansion Inc. bankruptcy illustrates the risk posed by companies dependent on high market caps in boom times for survival. The company was below the industry averages on all five CSI benchmarks. CSI score: 3.10.
On March 1, 2009, Spansion, Inc., a $2.3 billion flash memory chip manufacturer based in Sunnyvale, California, and four of its affiliates filed a voluntary petition for chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware only three years after going public on the NASDAQ.