SGI explores ways to avoid bankruptcy

Silicon Graphics News
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Mountain View-based Silicon Graphics is continuing efforts begun last year to restructure its business and avoid bankruptcy.
While the company repeated in a filing made earlier this week with the Securities and Exchange Commission that it “could be forced to seek protection under bankruptcy laws,” Silicon Graphics added that it is “continuing to evaluate a range of strategic alternatives” which could mean finding a buyer or additional financing.
In June, Silicon Graphics — also known as SGI — hired turnaround specialist AlixPartners. As losses continued, five months ago Silicon Graphics began cutting staff and last month brought on a new chief executive officer, Dennis McKenna, to oversee “strategic and operations changes” in the business. McKenna was named chairman of the board, chief executive officer and president on Jan. 27.
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