| MandrakeSoft mulls Chapter 11 style escape, says email [The Register] |
Jan. 14, 2003
A leaked email suggests that Mandrake may be looking for options to continue operations -- including VC investments or Chapter 11 reports Bruce Tober at The Register . . .
" . . . New MandrakeSoft CEO Francois Bancilhon says the liabilities total about €2 million, but that he's weighing all possible choices for resolving the problems. The leaked email, however, paints a different picture. It describes specific plans to go with either Chapter 11 or its French equivalent . . . "
"As for VCs, he said he's talking with them also and "we have people very seriously looking at the opportunity." On the possibility of a merger, he added it's something that should always be looked at but is "sceptical" because he believes a company's problems should be solved first before mergers are undertaken . . . "
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