Cloud storage partner of IBM filed for Chapter 11 bankruptcy
Posted on Wednesday, October 9th, 2013 at 10:01 pm
The San Diego-based cloud storage company Nirvanix announced their bankruptcy on September 30. The company filed for Chapter 11 bankruptcy, and gave an October 15 deadline to their customers and partners to remove their files from their service.
Nirvanix had raked in millions of dollars by powering IBM’s “SmartCloud” storage. The company attributed their financial issues to the expensive nature of running cloud storage and their recent managerial problems. Nirvanix had substantial debts from Nimsoft, Salesforce.com, Gartner, and Dell Marketing L.P. which was cited as their biggest creditor.
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