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11 Apr 2011

Canadian Ambrilia Faces Bankruptcy

Ambrilia Biopharma Inc. said Friday that the company is planning to file for bankruptcy.

Canada's Ambrilia Biopharma Inc. has been struggling since 2009 to stay afloat, but the company released the news last week indicating it's planning to file for bankruptcy.

 

Ambrilia's problems began during the credit crisis when the company alerted investors that it didn't have enough cash on hand to meet its obligations. Ambrilia has been steadily shedding jobs and assets since then.

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