Technology blog Gigaom announced that, unable to pay creditors, it is discontinuing its operations, but it is not likely filing for bankruptcy, the Wall Street Journal reported today. In a post titled, “a brief note about our company,” Gigaom’s management said that it is currently unable to pay creditors that have rights to all of the company’s assets. Gigaom said that it doesn’t know what lenders plan to do with the assets, but it reported that “the company does not currently intend to file bankruptcy.” The announcement seems to describe a situation in which Gigaom’s lenders are foreclosing on the company’s assets because they weren’t being paid. Gigaom was founded in 2006 by Om Malik, who’s since left the site, and claims to have a monthly audience of 6.5 million. The website’s coverage focused on topics like new technologies including cloud services, the media and Apple Inc.
