POMPANO BEACH, FL ByeByeNow.com, an on-line travel services company that had raised more than $30 million in venture capital, has filed for bankruptcy protection along with two of its subsidiaries: ByeByeNow.com Travel and ByeByeNow.com Productions. The company is seeking Chapter 11 protection to reorganize, hoping to rescue the technology it developed as the basis for a new company.
According to company officials, ByeByeNow.com has more than $22 million in debt. Its assets are primarily its technology and a group of travel agency franchises it assembled. ByeByeNow is believed to be negotiating with Carlson Wagonlit Travel to purchase the franchise. (1/31/01) SOURCE:The Miami Herald