News Article
Dutch Company Suspends Payments
ThreeFive Photonics has filed a "suspension of payments" request in the Dutch courts. The company works to develop chip-based optoelectronic integration.
ThreeFive Photonics has filed a "suspension of payments" request in the Dutch courts. The company works to develop chip-based optoelectronic integration.
The measure is described as being equivalent to a US Chapter 11 bankruptcy filing. The company is to explore alternative financing strategies for the company that is suffering from the downturn in the telecoms sector.
"Our existing financing situation does not allow us to sit through the current telecom winter," says Wouter Deelman, CEO of ThreeFive Photonics. Among the possible measures is the sale of the company as a "going business".

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