Cerplex Plans to Sell Units, Agrees to Enter Bankruptcy

Cerplex Group Inc., an ailing computer services firm, said Friday it is selling some of its units and has consented to a move by creditors to push the firm into bankruptcy.

The Tustin company, which has racked up heavy losses in recent years, said it plans to sell its repair business, including a technical support call center in Irvine, to Teleplan Holdings USA Inc. Financial terms weren’t disclosed.

As a part of the transaction, about 250 employees in the Irvine center and three facilities out of state are expected to be retained by Teleplan, Cerplex said.

Cerplex will maintain its headquarters, a business-to-business online parts operation in Irvine and a repair facility in the United Kingdom.

The company also agreed to an involuntary Chapter 11 bankruptcy petition that creditors filed in June after Cerplex failed to make a $2.2-million payment that was due on certain debt securities.

The note holders, including Chase Manhattan Trust Co., filed claims against the company totaling more than $13.4 million, plus accrued interest. Chase Manhattan Trust claimed the largest share, with about $10.4 million in debentures, plus accrued interest.

Proceeds from the Teleplan transaction, if approved by U.S. Bankruptcy Court in Delaware, are expected to be used to pay part of Cerplex’s secured debt, Cerplex said.