GuestLogix files for creditor protection — OpenJaw unaffected

▤ Summary

GuestLogix, the Tornoto-based company thats the largest onboard payments processor for the travel sector, has filed today for creditor protection and plans a further restructuring. The move came a day after one of its major lenders formally said that it was in default of its obligations. Today shares in GuestLogix stock were suspended from trading on the Toronto exchange. The companys Investor Day presentation noted that it has a large opportunity due to an increasing desire for ancillary sales from many of its airline customers. While it still has a lead in its list of major airline customers, the company risks having some of that share stolen by competitors while it tries to reorganize.

▦ Linked Companies

Guestlogix

$25M to $50M

OpenJaw

$10M to $25M