To facilitate the sale, LTWC and its subsidiaries previously filed a voluntary petition for relief under Chapter 11 with the U.
LTWC expects to wind-down its operations and distribute its assets to its creditors in bankruptcy.
Prior to the closing of the asset sale, LTWC provided permission-based e-mail marketing solutions and services that allowed its clients to build customer relationships and make real-time business decisions based on campaign results.
CONTACT: Heather Palmer LTWC Corporation hpalmer@ltwccorp.
CONTACT: Heather Palmer of LTWC Corporation, +1-650-232-1000, ext.
To facilitate the sale, LTWC and certain subsidiaries will file voluntary petitions for relief under Chapter 11 with the U.
LTWC has adequate cash balances to fully fund operations during the Chapter 11 proceedings and will file various motions to enable it to meet obligations related to certain customer programs and other similar charges.
will allow the LTWC permission based e-mail business to remain a strong competitor and maximize our value for customers, employees and other stakeholders.
During the Chapter 11 process LTWC will maintain business as usual.
Goldman, Chief Executive Officer of LTWC Corporation, said, "During the fourth quarter we focused on aligning the Company with our mission of providing an effective, immediate and affordable channel between businesses and their target audience by offering customers powerful email marketing solutions and convenient access to quality products and services.
We believe our recent progress demonstrates that LTWC is gaining traction in the market.