VLJ fallout: Adam Aircraft shuts down

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Adam Aircraft has shut down, due to financial issues. "In a difficult but necessary move, Adam Aircraft Industries suspended operations today at its facilities in Colorado. This measure was required due to the inability of the company to come to terms with their lender for funding necessary to maintain business operations. The company is currently exploring all of its alternatives and will provide further guidance when decisions are made, which is expected to be later this week."

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[OFBSLF]

Looks like it has gone from bad to worse -- Adam has filed for Chapter 7 (liquidation).

http://www.aero-news.net/index.cfm?ContentBlockID=4773e13a-5582-4445-878b-ca32a5e3f0a7&