AlphaRed Declares Chapter 7 Bankruptcy

I just wanted to state that as AlphaRed has now declared Chapter 7 bankruptcy and is ending service tomorrow it is certainly time for any existing AlphaRed clients to get moved out. We again are willing to help, by offering free backup space to any affected users and we do have servers immediately available. Just contact sales@steadfast.net regarding either of those offers.

As for our own status during these hard economic times, business has still been good. We are seeing more cancellations due to the economy, but we are still seeing the same type of growth we had seen previously. The company is in the best financial shape we have ever been in and we are currently only using credit to grow, not for day-to-day operations.

As a note, here is the official notice from AlphaRed regarding their bankruptcy:

This Morning December, 23 2008 at 9:30 AM CST, Alpha Red, Inc. entered Chapter 7 Bankruptcy. Doug Brickley of LECG was appointed the Chapter 7 Trustee. The receiver’s duties are to liquidate the assets of Alpha Red and collect past due balances from Alpha Red's current and former clients.

The business will not continue. All services including power, bandwidth, and technical support will be shutdown at 9:00 AM CST on December 24, 2008, tomorrow. We will begin shutting down servers this evening around 8:00 PM CST, December 23, 2008 starting with accounts which have outstanding/past due balances.

If you have paid your bill and are current, you may contact us at support@alphared.com or by phone: (713) 936-2388 to delay your shut-off time until 9:00 AM CST tomorrow morning.