Pipeline Data Inc., a provider of payment-processing services for merchants, filed for chapter 11 protection yesterday, Bloomberg News reported. The company listed assets of less than $10 million and debt of $50 million to $100 million in its chapter 11 documents filed yesterday. Pipeline Data, through its subsidiaries, provides payment- processing services to small and midsize retailers that operate in physical "brick-and-mortar" stores or over the Internet, according to its website. Cynergy Data LLC is listed as the Brasher Falls, New York- based company’s largest creditor without collateral backing its claims. Cynergy is owed $1.6 million, according to court papers.
