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Storj Files for Chapter 11 to Restructure Legacy Liabilities

Guavy AI Editorial Team
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STORJ
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Storj Labs has filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of West Virginia to restructure its legacy liabilities.

The company's core operations will continue uninterrupted, and users can still access their decentralized storage services without any disruptions.

Management views this move as a 'financial reset' and not an indicator of operational problems. The restructuring process is expected to streamline operations, give the company a firmer financial footing for growth, and create a wider ownership base following the Chapter 11 proceedings.

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