2012 Olympics backer Nortel files for bankruptcy protection

[umar009]

Nortel, the Canadian telecommunications equipment giant and one of the cornerstone sponsors of the 2012 London Olympics, has filed for bankruptcy protection in both the US and Canada as it struggles to cope with the effects of the economic recession and plunging demand for its products.

Based in Toronto and still ranked as the biggest maker of telephone equipment in North America, Nortel said the move was designed to give it breathing space to deal with the deteriorated environment in which it finds itself. The conglomerate said its European units would shortly be making similar creditor protection filings
Keeping the Weight Off
n methyl d aspartate