Azzur Files for Bankruptcy, to Sell Consulting Business (1)

Azzur Group Holdings filed for Chapter 11 bankruptcy protection in Delaware, according to a court filing.

• Estimated assets: $100m-$500m
• Estimated liabilities: $100m-$500m
• Azzur has reached an agreement to sell its consulting business to ELIQUENT Life Sciences for $56 million, according to a separate statement
• Secures DIP Financing Commitments of $23.5m to continue ops with no intended operational changes as a result of this acquisition
• All Azzur Consulting employees and leadership are expected to transition to ELIQUENT

(Updates with company statement.)

To contact the reporters on this story:
Audrey Wan in Singapore at awan69@bloomberg.net;
Janine Phakdeetham in Bangkok at jphakdeetham@bloomberg.net ...