LexaGene Holdings Inc., a pathogen diagnostic systems company, will seek bankruptcy liquidation after laying off its staff and ceasing operations, the company said.
LexaGene and its affiliate, which have offices in Massachusetts and trade on the Canadian TSX Venture Exchange, on Friday filed for Chapter 7 in Boston, according to a press release.
A bankruptcy trustee will be appointed to liquidate the company’s assets.
The company lists assets and liabilities of $1 million to $10 million, according to court filings. The company doesn’t expect to be able to pay back all creditors, it said. Its “unlikely” shareholders will receive any ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.