* Silicon Graphics Files for Chapter 11 Bankruptcy
posted by Thom Holwerda on Mon 8th May 2006 13:18 UTC, submitted by BluenoseJake
IconSilicon Graphics Inc. has filed for Chapter 11 bankruptcy. The press release sugarcoats: "Silicon Graphics today announced that it has reached an agreement with all of its Senior Secured bank lenders and with holders of a significant amount of its Senior Secured debt on the terms of a reorganization plan that will reduce its debt by approximately $250 million, greatly simplifying its capital structure." El Reg, The Inq, and the WSJ have more.
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