New Century Financial, who had until yesterday to find a buyer for its operations or face complete liquidation was unable to consummate a deal with potential suitors. The company’s creditors committee refused to extend the deadline. Brad Morrice, CEO, delivered the news in an emotional conference call.
â??I realize that today’s announcement was not the news that any of us hoped to hear,â?? Morrice said, his voice quivering at times. â??I would be remiss if I did not say how sorry I am for any grief or hardship that any of you may experience as a result of this situation.â??
More from the OC Register and the AP.
Last 3 posts by Morgan
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