Wiz Technology Files for Chapter 11

Wiz Technology Inc., a troubled supplier of discount software, has filed for Chapter 11 Bankruptcy Court protection, the company said in a regulatory filing. The document, filed with the Securities and Exchange Commission, gave no reason for the bankruptcy petition. It said the Chapter 11 filing was made last week in federal bankruptcy court in Santa Ana. Officials of the San Juan Capistrano-based company could not be reached for comment. Before the filing, Wiz had suffered a string of setbacks, including a restating of its financial results for its fiscal second quarter ended Jan. 31, 1997. Wiz was founded in 1991 and sold its software through nontraditional retailers such as grocery chains, drugstores and gift shops. Then it changed gears, concentrating its efforts more on big chains such as CompUSA. The company later shifted back to its core market.