Zultys Enter Chapter 11 in US – Debts of $45 Million

Troubled PBX vendor Zultys has filed for bankruptcy under the Chapter 11 scheme in the US in order to protect the company from its creditors. On their application form the company lists provisions for up to 999 creditors and debts of up to $50 million.

Previously the company had laid off all their staff by locking them out of their offices one morning in July only to declare ‘business as usual’ the following week.

In the UK Zultys lost their sales team to Shoretel earlier this month but bizarrely re-appointed

Bizarrely Zultys recently re-employed UK country manager Martin Bond who only joined the company this spring and was the first to be laid off this summer.