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Tintri Chapter 11 Petition Filed

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Tintri filed for Chapter 11 protection with the U.S. Bankruptcy Court in the District of Delaware, case number 18-11625. Tintri, which develops and markets an enterprise cloud platform combining cloud management software technology and a range of all-flash storage systems for virtualized and cloud environments, is represented by Colin R. Robinson of Pachulski Stang Ziehl & Jones. In a declaration filed in support of first day pleadings, Robert J. Duffy, Tintri’s C.R.O. notes, “The Company’s financial condition led existing and potential customers and suppliers to express concerns regarding the Company’s financial condition, which negatively impacted the Company’s ability to sell and ship products and services. The Company’s financial condition also adversely affected its ability to continue to attract and retain key personnel and other employees. Due to continued deterioration in the Debtor’s cash flow, the Debtor, following consultation with its advisors and other professionals, determined that the best course of action under the present circumstances would be to file a Chapter 11 petition and to seek the Court’s approval for the prompt sale of substantially all its assets.” Tintri’s petition notes between 1,000 and 5,000 creditors; estimated assets between $10 million and $50 million; and estimated liabilities between $10 million and $50 million. Tintri’s largest unsecured creditor is listed as Flextronics International USA with a trade debt claim of $4,487,849.

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