Violin Memory Finds Buyer at Bankruptcy Auction

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Tech Firm Violin Memory Finds Buyer At Bankruptcy Auction
Data management company Violin Memory Inc. told the Delaware bankruptcy court Friday that it found a buyer during a three-day auction in New York that is willing to extend post-petition financing and sponsor a Chapter 11 plan. In a notice to the court, Violin Memory identified the winner of the auction that ended Thursday only as VM Bidco LLC and said the proposed buyer is going to provide a debtor-in-possession loan and “certain recoveries to creditors under a confirmed plan of reorganization.”