Disgraced energy giant Enron has unexpectedly put its top assets up for sale.

The sale of the assets - which include key pipelines - would leave almost nothing behind and would be tantamount to liquidation, sources familiar with the firm said.

Stephen Cooper once wanted to relaunch Enron

Enron has been restructuring itself whilst in administration and was previously expected to emerge as a new firm focused on the core power and pipeline businesses.

The U-turn on restructuring reflects growing pressure from creditors to be paid their due.

Thousands of employees lost their savings and pensions when the firm went bust last December, while banks have also been left out of pocket.

More job losses?

The firm's new chief executive, Stephen Cooper, has stressed that his key goal is to squeeze as much money as possible out of the firm for its creditors.

But he had previously argued that the assets would be worth more if the firm was recreated as a going concern rather than sold off piecemeal.

In May, Mr Cooper presented plans to a bankruptcy court, claiming that a new Enron - employing 12,000 staff - could achieve pre-tax profits of $1.3bn in 2003.

Although creditors may be cheered by a sell-off, it is bad news for remaining employees.

Final bids for the assets are expected in November, and the firm has said it will not sell if the price is too low.

Back to basics

Enron built its original gas and power pipeline business into an energy trading giant that became the US' seventh largest firm.

But its rapid expansion - and escalating profits - turned out to be based on false accounting methods that artificially inflated its size and potential.

Its collapse - the largest corporate bankruptcy in the US at the time - was the first and arguably the most shocking of the recent wave of corporate scandals.

Federal prosecutors are working to try and charge senior executives at the firm with securities fraud and insider trading.