03-03-2009, 12:47 PM
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More news on Yahoo Finance:
ILX RESORTS INC Share Price Chart | ILX - Yahoo! Finance UK
ILX Resorts Files for Chapter 11 Reorganization: Financial News - Yahoo! Finance
Quote:
“Dramatic challenges in the economy and recent unanticipated reductions in our credit facilities caused by disruption and instability in the capital markets have necessitated that we seek reorganization protection to preserve resources for an orderly restructuring of the Company,” said Joe Martori, Chairman and CEO.
The Company expects that Chapter 11 protection will enable the company to conduct its business operations as usual. To that end, the Company is seeking approval from the court in order to continue managing its operations in the ordinary course.
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