SANZ, a solution provider specializing in storage solutions recently filed for Chapter 7 bankruptcy.  However, some sources close to former employees of the Englewood, Colorado-based solution provider stated that these employees are looking for ways to bring back part of the company.

The company officially filed a form 8-K on November 27th with the Securities and Exchange Commission.  A majority of the SANZ employees were officially let go by way of a single e-mail from the solution provider’s CEO, Todd Oseth.  

A former employee source stated that there have been rumors circulating about re-incorporating SANZ as a storage solution provider.  However, there is another solution provider talking to several former SANZ employees about potential job opportunities, and that person stated there are many employees that would prefer to work for another company that has no storage function.

The former employee source feels that something should be done for SANZ’s customers and former employees.  Many want to take customers with them.  While there is no stipulation for passing customers onto another solution provider, both the customers and the employees will inevitably be affected negatively by the bankruptcy.  

According to sources, SANZ has been in financial trouble for quite some time and was allowed to decline after Oseth joined as CEO in early 2007.  Many employees of the solution provider were very displeased by Oseth’s strategy of alienating employees.  Sources also felt that SANZ’s attempt to be a solution provider and a vendor at the same time contributed to its demise.

While employees were let go, some top executives of the voluntarily resigned.

For more information about this story about solution provider SANZ and its next steps, visit the attached link.  

Submitted By:  Joshua Feinberg