Storj parent company Stoj Labs applied for financial reorganization and will operate, service and network as usual

On 27 July, Globenewswire reported that the cloud storage platform Storj parent company Storj Labs had filed an application for insolvency protection under chapter 11 of the United States Bankruptcy Code, aimed at resolving certain outstanding debts. During the reorganization period, business will proceed as usual and will not interrupt any service to its clients and it is planned that the ownership of the restructured company will be shared by management, the currency community and investors。