[Gloucs] Mandrake bankrupt

[bjh]

Thanks for the info John...

I had noticed a few days ago that they were actually asking for funding
donations on their website...

Sad day, and yet again examples the typical problems that any operation
offering "free services" faces in the realities of the international market
place...

The Press Release:

"MandrakeSoft News

   MandrakeSoft's financial reorganization 2003-01-15

The liabilities accumulated by MandrakeSoft through a series of quarterly
losses have prompted the company to file for "declaration de cessation des
paiements". The filing, similar to the U.S. Chapter 11-Reorganization, took
place on January 13, 2003.
This reorganization of liabilities enables MandrakeSoft to continue its
current operations, which are showing increases in revenue and significant
decreases in expenses. MandrakeSoft's strategic partners are supporting the
company in this process and the MandrakeSoft team is focused on continuing
to deliver high quality services and products to its customers.

Following this filing and with the support of the court via a
court-appointed Administrator, MandrakeSoft will be protected from its
creditors, renegotiate its liabilities and prepare a continuation plan to be
approved by the French Court in the coming months.

Version 9.0 of the product was a success both technically and commercially
and the company is now focused on Version 9.1 which will be announced as
scheduled in April."

*****************************

Let's hope they can survive and go on to produce Version 9.1 at some time in
the future...

Best wishes..... Barrie

----- Original Message -----
From: "john mckeown" <jmckeown@glos.ac.uk>
To: <gloucs@mailman.lug.org.uk>
Sent: Thursday, January 16, 2003 12:33 PM
Subject: [Gloucs] Mandrake bankrupt


Mandrake have filed for bankruptcy to defend
themselves against the continuing heavy drain
from penalty clauses incurred some years ago
in E-Learning ventures before the dot.com crash

http://www.mandrakesoft.com/company/press/briefs?n=/mandrakesoft/news/2405
http://slashdot.org/articles/03/01/15/1727240.shtml?tid=147

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