Concurrent Computer Corp reports that its formal grace period with members of its bank group has come to an end, which means that the banks can call the loans in and render the company insolvent – but discussions with the bank group are scheduled to continue. This week, the Tinton Falls, New Jerey company will make available its new business plan and proposals for recapitalisation to its bank group and bondholders which will result in a new, streamlined operation that will enable Concurrent to return to profitability after a successful restructuring. We look forward to discussions with our banks and bondholders regarding our business plan and recapitalisation proposals, it said.
