Feeds

Xerox denies bankruptcy story

But offers no alternate explanation

  • alert
  • submit to reddit

Top 5 reasons to deploy VMware with Tegile

Xerox is contradicting a report in Tuesday's New York Post claiming that it retained New York investment firm Blackstone Group to help it manage an impending bankruptcy.

While denying the bankruptcy charge, Xerox declined to explain its business with Blackstone, and would not confirm whether or not Newman is involved.

The company has lately been embarrassed by tanking share values, losing nearly 80 per cent from its 52-week high of $27, and last month's credit-rating downgraded by Moody's Investor Services. The company has been aggressively selling off assets in an attempt to maintain liquidity, and insists that this strategy is working beautifully.

Xerox owes Citigroup and Bank One $375 million each, and FleetBoston, $350 million. JP Morgan Chase is their biggest creditor at $750 million, the Post reports. No doubt all will be relieved to hear that the company's finances are on track despite appearances. ®

Internet Security Threat Report 2014

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
DOUBLE BONK: Testy fanbois catch Apple Pay picking pockets
Users wail as tapcash transactions are duplicated
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Google Glassholes are UNDATEABLE – HP exec
You need an emotional connection, says touchy-feely MD... We can do that
YARR! Pirates walk the plank: DMCA magnets sink in Google results
Spaffing copyrighted stuff over the web? No search ranking for you
In the next four weeks, 100 people will decide the future of the web
While America tucks into Thanksgiving turkey, the world will be taking over the net
prev story

Whitepapers

Choosing cloud Backup services
Demystify how you can address your data protection needs in your small- to medium-sized business and select the best online backup service to meet your needs.
Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Storage capacity and performance optimization at Mizuno USA
Mizuno USA turn to Tegile storage technology to solve both their SAN and backup issues.