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Axium International files for bankruptcy

January 09 2008
Axium International Inc., the parent of the Ensemble Chimes Global vendor management system, filed for Chapter 7 bankruptcy on Tuesday in Los Angeles and ceased operations.

Joseph Eisenberg, an attorney for Axium, said the company is out of business. "A trustee has been appointed to supervise the liquidation," Eisenberg said. "The trustee will handle the transition of clients out to wherever they want to go."

The company listed assets of between $100 million and $500 million, according to the filing. It said liabilities are also between $100 million and $500 million.

Chimes was the largest VMS provider in Staffing Industry Analysts' VMS Marketplace Profile (based on number of unique temporaries passing through the system in 4Q06). Axium purchased Chimes from Computer Horizons International Inc. in February 2007.

Axium was also one of three major companies that processed payroll for movie studios and other entertainment firms, the Los Angeles Times reported today.


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