PNV Files for Reorganization
Overdue loans and a lack of new financing have the company that once hoped to be the communications service of choice for over-the-road truck drivers looking for a buyer.
Casey Gunnell, the company’s chief operating officer, said the company would respond to Nasdaq’s questions and attempt to get the company relisted while it hunts for a buyer of “all of its assets or pools of its assets.”
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Coral Springs, Fla.-based PNV (PNVN) said Dec. 20 that it had filed for bankruptcy, which permits it to continue to serve its communications, entertainment and Internet customers until it is sold.
Trading of PNV’s shares on the Nasdaq stock exchange was halted pending further news on the bankruptcy and information from the company.
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