B.O.S. Closes Down Two U.S. Subsidiaries
B.O.S. Better Online Solutions Ltd. (Nasdaq: BOSC) today announced that its two U.S. subsidiaries that are part of its Supply Chain division: BOS Supply Chain Solutions (Summit) Inc. and its holding company, BOS Supply Chain Solutions(Lynk) Inc. have filed with the US Bankruptcy Court a Chapter 7 petition.
As a result, BOS will record an approximate $660,000 non-cash write-off in the fourth quarter of 2010, but does not expect any adverse financial impact on its continuing operations.
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