Items tagged with bankrupt

We suspected that a deal was imminent, and now the details are being made public. OCZ, a company that engrossed gamers and power users for years with wicked-fast storage options, recently went bankrupt. Now, however, new life is being breathed into what's left by way of Toshiba. OCZ announced today that an agreement has been inked with Toshiba " to acquire substantially all of OCZ's assets in a chapter 11 bankruptcy proceeding for $35M." What this essentially means is that Toshiba is acquiring the solid state drive business from OCZ for a huge discount, which actually may work out well for both... Read more...
America’s third largest electronics retailer with 721 stores in the U.S. and 770 in Canada, has petitioned for Chapter 11 protection in U.S. Bankruptcy Court in Richmond. After losing money in five of the last six quarters and announcing last week it would close 155 stores, Circuit City is seeking bankruptcy protection amidst fears that it would not be able to pay its vendors. The company presently owes Hewlett-Packard Co.$119 Million and Samsung Electronics Co. $116 million.A deal earlier this year that involved Blockbuster Inc. buying the retailer fell through when a preliminary offer was withdrawn.... Read more...
Inbox awash in unread messages? Find yourself clicking "Save As New" over and over thinking you'll write a more intelligent reply later, but "later" never seems to come? Do you have a Post-It note stuck to your screen to remind you to buy more Post-It notes? Are you the Haley Joel Osment of personal communication, because there are messages so old in your in-box they're from dead people now? If so, perhaps you should try "e-mail bankruptcy." Those declaring bankruptcy are swearing off e-mail entirely or, more commonly, deleting all old messages and starting fresh. E-mail... Read more...