Boston-based nTAG, provider of Event Data Management (EDM) solutions for the meetings and events industry, has filed a Voluntary Petition for Liquidation under Chapter 7 of the United States Bankruptcy Code, according to its Chicago-based competitor, Spotme, which broke the news in an e-mail to customers and contacts last week.
According to Spotme, former nTAG employees were dismissed at noon on Dec. 31, 2008, at which point current nTAG customers hadn't yet been informed of the company's dissolution, it suggested.
"This creates difficult circumstances for those who are counting on using nTAG during the coming weeks and months," Spotme wrote in its e-mail announcement on Friday. "While it is unfortunate to see any company in our industry file for bankruptcy and people lose their jobs, Spotme is available to service the event communication and networking needs of former nTAG customers."
As of this morning, nTAG's Web site—
www.ntag.com—had not yet been updated to reflect its company's circumstances.