 At the time operations ended, the company had more than 800 employees and 2500 students who had no warning of the bankruptcy filing.A company statement released at the time said that the closure without warning was due to “a rapid, unprecedented downturn in the U.S. credit markets” which had curtailed the availability of student loans for the company’s students and that this then resulted in a “sharp and sudden downturn in new student enrollment.” Silver State Helicopters' assets were listed at US$50,000 following the bankruptcy filing.Silver State Helicopters owes 5,000 creditors between US$10 and $50 million.