Corporate Resource Services, at one time one of the largest staffing firms in the US, filed for bankruptcy protection last week, according to court records.

The firm had already been winding down operations with its lender Wells Fargo maintaining tight controls of cash, according to court filings. The PEO used by Corporate Resource Services earlier this year filed for bankruptcy protection citing a significant amount of tax debt.

Nasdaq has already delisted Corporate Resources Service.

“Ultimately, the Chapter 11 case will allow the debtors to streamline their operations while providing the necessary time and process to complete the current restructuring and/or sale process for the benefit of stakeholders,” according to the filing.