The slowing economy took out two more companies last week.
NetMorf Inc., an established wireless Web site developer, and Paradigm4 Inc., which provides data network services and solutions, announced they would file for bankruptcy.
Calls to Paradigm4’s spokesman were not immediately returned.
Paradigm4 said it originally planned to file for bankruptcy March 14. But “several interested investors” delayed the filing, the company said in a statement. However, the five-year-old company’s lengthy search for capital failed to turn up any sources.
Paradigm4 said a bankruptcy trustee would be appointed by the courts to oversee the liquidation of the company’s assets.
NetMorf tells a similar tale. The two-year-old company was in its third round of financing when an unidentified investor unexpectedly withdrew, leaving the company short of cash for its payroll. The company shut down the same day.
