https://www.moodys.com/research/Moodys-affirms-Sungard-Availability-Services-CFR-at-B3-outlook-negative--PR_384470
2 replies (most recent on top)
You are 100% correct chapter 11 is close, they want it to fail it's the only way out, besides a buyer. The end is near 2019 will Mark the end of SunGardas.
This really shouldn't surprise anyone. Without a sales team interested in selling, without a product team interested in innovating, without a support team interested in supporting Sungard AS will continue to spiral out of control until it hits bottom. I would be surprised if the Private Equity partners have already acknowledged AS can not be saved and are purposefully running the company into bankruptcy. In bankruptcy, Giggles & Co. would still get their golden parachutes, while anyone under them would get $0. Bankruptcy would allow a sell off of assets and an easy out for the PE group. This is exactly what KKR (a Sungard AS PE partner) did to Toys-R-Us. KKR drove the company into bankruptcy to kill any severance and ensure the C-suites got their parachutes. Research it.
If you are a US or UK employee and haven't started looking for a new job, you're way behind the curve. If you have, good luck and good riddance to Sungard AS.