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  2. Chapter 11
    • According to 2 sources
    Newchip entered into bankruptcy liquidation last week. The Austin-based company rebranded as Astralabs, doing business as Newchip and Newchip Accelerator, filed for Chapter 11 bankruptcy reorganization on March 17th, listing $1.7 million in total assets and $4.8 million in total liabilities, according to its filing.
    Newchip, based in Austin TX, rivaled it as one of the largest, with a radically different business model. On March 17, Newchip (under its corporate name of Astralabs) filed for Chapter 11 bankruptcy protection from creditors. This would allow the company to restructure and continue operating.
     
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