Firm That Tried to Supply Computers to Soviets to Liquidate

The Phoenix Group International, the Irvine technology-holding company that filed for bankruptcy protection last month, has decided not to attempt to reorganize its business and will instead liquidate its assets.

U.S. Bankruptcy Court Judge James N. Barr signed an order here Friday authorizing the liquidation. A court-appointed trustee, who would be responsible for distributing any company assets, will be named at a later date.

The Phoenix Group drew national attention when it announced in September, 1989, that it had formed a joint venture with concerns in the Soviet Union to supply up to six million computers to Soviet schools and offices. But the company was unable to carry out the deal and ran out of money after an expansion earlier this year.

When Phoenix filed for Chapter 11 bankruptcy protection in December, Chairman Charles W. Missler said he hoped the company would be able to reorganize, repay its creditors and remain in business. He also said at the time that he wasn’t sure if the company could be saved and that the firm might have to be liquidated.

Missler could not be reached for comment Monday.

At the time of its filing, the Phoenix Group listed liabilities of $1.65 million and unspecified assets.

Netcom Research Inc., a Phoenix computer workstation subsidiary that filed for Chapter 11 protection in November, remains in Chapter 11 proceedings.