Tintri Faces Bankruptcy
With just one day away from a predicted loss of funds to operate, Tintri faces bankruptcy.
According to an SEC statement,
“The Company has very limited cash resources remaining and currently does not expect to have sufficient liquidity to continue its operations beyond June 30, 2018.”
It is also noted that approximately 200 employees were terminated, reinforcing that Tintri faces little to no hope in recovery or acquisition.
“On June 22, 2018, the board of directors of Tintri, Inc. (the “Company”) approved a reduction in force of approximately 200 employees. The reduction in force is ongoing and the Company expects to complete it shortly. Following this reduction in force, the Company expects to have between 40 and 50 employees.”
If you have purchased a Tintri service at Insight, we would like you to know that we are here to support you in any transition you may face. Your dedicated Account Executive will guide you in this process and will be able to offer any additional service you may need at this point of time.
We know how critical it is to avoid any downtime and to quickly sort out any IT concerns. If you would like to speak to an Insight Account Executive, or would like to get support and advice, please fill out the form on this page and we will gladly help.