Interliant’s president and CEO, Bruce Graham, and COO, Steve Munroe, have quit their jobs after the company finally filed Chapter 11 bankruptcy protection.
Interliant announced in July that it would not have sufficient funds available to continue trading, following the third quarter ending September 30. However, it decided to announce its Chapter 11 filing for its US operations on August 5 instead.
Interliant is expected to continue trading through debtor in possession financing, while it undergoes restructuring programs in its US and overseas operations. Its UK business was not included in its Chapter 11 filing.
At present, Interliant is unsure when it will emerge from bankruptcy or how new funds will be generated. In the meantime, Frank Alfano, CFO of Interliant, will take over the helm as president and CEO of the company.