Industry News

New Century files for bankruptcy protection, lays off 3,200

CEO says sale could preserve jobs of remaining employees
Published on Apr 2, 2007

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by CareyBot

Troubled subprime lender New Century Financial Corp. announced Monday that it has filed for Chapter 11 bankruptcy protection, laid off 3,200 workers, and agreed to sell its servicing assets and servicing platform. The Irvine, Calif.-based company said the layoffs, representing ...