The story
LayerOne was founded in 1999 by Alexander Muse. By 2001 the company had raised more than $20,000,000 in venture capital and opened facilities in Dallas, Chicago and Miami. While each facility was cash flow positive, the company had executed leases throughout the United States in anticipation of additional funding. When that funding did not materialize Alexander Muse and his management team reorganized the company under the U.S. Bankruptcy code. Within three months the company was profitable and over the next three years the company grew by more than 1000%. In 2005 the company was sold to Switch & Data providing a 600% return for the company's investors.
From Wikipedia’s article on LayerOne, shared under CC BY-SA 4.0.3