A federal bankruptcy judge in Delaware approved Eclipse Aviation’s plea for Chapter 11 bankruptcy protection on Dec. 15, according to Albuquerque television station KRQE.
That protection could help to save the Albuquerque jet builder and its 945 employees, but the company’s future remains uncertain, the station reported. Eclipse now has to find a buyer and complete the sale before a Jan. 12 deadline apparently set by the court. Without a sale the company could be forced to shut down.
KRQE reported that two groups may bid to buy Eclipse, according to court documents. As previously reported here, only one – majority stock-holder ETIRC – had been expected to bid.