Alpine 4 Holdings Inc., a Phoenix-based holding company, is facing financial difficulties and plans to cease operations after reorganizing or selling its subsidiaries. CEO Kent Wilson announced his resignation and outlined the company's strategy for closure.
A Phoenix-based holding company, Alpine 4 Holdings Inc., is facing financial difficulties and plans to cease operations after reorganizing or selling its subsidiaries. CEO Kent Wilson announced in a February 11th letter to shareholders that the company intends to shut down, stating that this decision, while difficult, is the most responsible course of action during this challenging period.
Wilson also revealed his resignation from Alpine 4 Holdings, effective February 12th, although he will remain on the board of directors until the closure process is finalized. The holding company owns several technology-related subsidiaries, including Indianapolis-based ElecJet Corp. and Quality Circuit Assembly, an electronics contract manufacturer based in California. Wilson emphasized his unwavering commitment to ensuring the company's closure is handled with utmost care and diligence. He stated his intention to collaborate closely with legal counsel and advisors to oversee the shutdown and liquidation process, aiming for a smooth and orderly transition.Currently, Alpine 4 Holdings is actively engaging with Quality Circuit Assembly's banking partners to explore financing arrangements that could potentially lead to an in-court reorganization or a sale to one of the company's largest customers. Wilson noted that these strategies could save up to 75 jobs. The full story can be accessed through the Business Journal
FINANCE HOLDING COMPANY TECHNOLOGY BANKRUPTCY CLOSURE
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