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Old 11-07-2008, 11:53 PM   #1
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Default MPC files for bankruptcy protection

Fri Nov 7, 2008 10:22am EST

NEW YORK, Nov 7 (Reuters) - MPC Corp (MPCC.PK: Quote, Profile, Research, Stock Buzz), a seller of personal computers, filed for Chapter 11 bankruptcy protection on Friday, saying that unforeseen issues at integrating an acquisition and other manufacturing changes caused extensive losses.

The company, based in Nampa, Idaho, said that it evaluated strategic alternatives before deciding to file. Its stock and warrants were delisted from the New York Stock Exchange Alternext US LLC exchange effective Nov. 4.

MPC, a PC vendor since 1991, sold business technology hardware to mid-sized business, government agencies and education organizations. In October 2007, it purchased the professional business unit of PC company Gateway, which itself was bought by Acer (2353.TW: Quote, Profile, Research, Stock Buzz) last year.

MPC said it did not foresee any distribution to equity holders in conjunction with the bankruptcy case. Focus Management Group USA is financial adviser and Reed Smith LLP will represent the company in connection with the bankruptcy case. (Reporting by Caroline Humer; Editing by Steve Orlofsky)
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