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OfB.biz: MandrakeSoft Declares Bankruptcy

Jan 15, 2003, 19:45 (58 Talkback[s])
(Other stories by Timothy R. Butler)

[ Thanks to Timothy R. Butler for this link. ]

"MandrakeSoft, the developer of the popular Mandrake Linux distribution, declared bankruptcy in France today. The filling, which the company says is 'similar to the U.S. Chapter 11-Reorganization,' is hoped to help the company escape the financial issues that have plagued the company over the past few years.

"This announcement seems to be the culmination of rumors over the past few days about the future of MandrakeSoft. Earlier this week various media outlets reported that an internal memo from Chairman and former CEO Jacques Le Marois, that discussed an upcoming bankruptcy filling, was circulating. As late as yesterday, company co-founder Gaël Duval was attempting damage control, telling NewsForge that the company was considering several different actions and that several investors had made 'offers' to the company..."

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