Summary
Meteorage Franklin is a small technology start-up firm that has been in nearly continual financial distress through its first 3 years of existence. In July 1989 the company finds itself out of cash and with no available sources of financing. Facing almost certain bankruptcy, the management are frantically searching for a solution to their problem which avoids bankruptcy.
Teaching objectives
The case presents an opportunity to focus on management of a company in financial distress. Students must be creative in their search for solutions to the firm's immediate problems - focusing on corporate restructuring techniques and distressed debt negotiations.
