Internet access provider PSINet Inc. , based in Ashburn, VA, said it was running out of cash and might reorganize under bankruptcy laws, according to Reuters. The company, which also provides Web hosting services, said it would not be able to file its 2000 financial report in the required period. PSINet, blamed "rapidly changing circumstances" for the delay. It said it believed more restructuring
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Internet access provider PSINet Inc. , based in Ashburn, VA, said it was running out of cash and might reorganize under bankruptcy laws, according to Reuters.
The company, which also provides Web hosting services, said it would not be able to file its 2000 financial report in the required period.
PSINet, blamed "rapidly changing circumstances" for the delay. It said it believed more restructuring and impairment charges, possibly significant, would be posted for the fourth quarter.
