IBM UK Ltd had no immediate comment on a bizarre suggestion in Saturday’s Independent that the company seriously considered filing Chapter 11 bankruptcy papers earlier this year: the piece was about frivolous Chapter 11 filings, but there are no conceivable grounds on which IBM Corp could justify seeking court protection – unless it was from hordes of irate Wall Street analysts and blue-rinsed shareholders; it doesn’t have any onerous union-imposed employment contracts it might want to have declared null and void, and its balance sheet may be stretched but it’s not that bad, and the company still retains its double-A-minus investment grade credit ratings.
