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Hawker Beechcraft issued a statement to its employees regarding its impending bankruptcy.
The company said it filed the preliminary steps to the Joint Plan of Reorganization and Related Discourte Statement with the Bankruptcy Court. The plan details how the company will relieve itself of outstanding claims and debts, and how ownership of the company will be transferred to its creditors.
Hawker said it is evaluating all options, adding "those options include continuing to operate as a standalone entity and evaluating a potential sale of the company."
The release said the company's goal is to emerge from Chapter 11 bankruptcy with the strongest operations and finances possible while preserving as many jobs as it can.
The company's statement was signed by CEO Steve Miller and Chairman Bill Boisture.