Consulting and advisory firm Monitor Company Group and its affiliates have filed for Chapter 11 bankruptcy protection in the U.S and are to be acquired by Deloitte.

The company listed both estimated liabilities and estimated assets for the consolidated group in the range of $100 million to $500 million, according to a court filing.

Michael Canning, national managing director of Deloitte Consulting LLP’s Strategy & Operations Practice, noted that the strengths of the two firms will complement each other: ‘Deloitte and Monitor leadership will work closely together to capture the best of both organisations and enhance our capabilities as world-class global strategy practices… I look forward to working closely with my new colleagues from Monitor as we bring that vision to life.’

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