Accelerate Diagnostics Files for Chapter 11 Bankruptcy

Accelerate Diagnostics has voluntarily initiated a chapter 11 restructuring proceeding in the U.S. Bankruptcy Court for the District of Delaware, and will seek to sell its assets through a court supervised sale process. The company has filed various "first day" motions with the bankruptcy court requesting customary relief that will enable it to transition into chapter 11 without material disruption to their ordinary course operations, including seeking authority to obtain debtor-in-possession financing and pay employee wages and benefits. To provide necessary funding during the chapter 11 proceeding, Accelerate said it...