The company exited bankruptcy the following year with both a new corporate name and new management team.
The company has since exited all residential service offerings and is now a business only provider of telecommunications services.
The company then entered its first bankruptcy under Chapter 11 in 1995 and exited in 1996.
At this time the company also exited the toy market.
The weak recovery is likely to force some companies to exit the business, Gartner said.
After the company exited bankruptcy in the summer of 2005, its stock was trading above $30.
But in the split-up announced on Wednesday, the company is exiting the computer business.
The company soon exited the network server business as well.
The option was granted when the company exited bankruptcy, and its price tag has risen over time.
By early 2004, the company had completely exited the U.S. market.