The Register® — Biting the hand that feeds IT

Mandrakesoft goes tits up

Runs to bankruptcy court

Increase your knowledge of the latest threats to your busines

On Monday, we revealed that Mandrakesoft was close to seeking bankruptcy protection under French law.
Yesterday, the firm filed for the French equivalent of Chapter 11. Here is the company's statement.

The move is designed to give it breathing space from creditors, while it re-organises its affairs. Question is: how many firms come out of the other end alive and thriving? We ask this, only because Chapter 11-style rescues do not necessarily work well outside the US. In the UK, for instance, we have something called a Creditor's Voluntary Arrangement. More often than not, this is staging post to an early grave. ®

Related story

MandrakeSoft mulls Chapter 11 style escape, says email

Increase your knowledge of the latest threats to your busines

Don’t Miss

GoogleGoogle code cloud punts on-demand embarrassment

Fail and You Mountain View's Sarah Palin moment

open source 75Microsoft weighs next-phase in open-source support

Spring, PHP, and Apache sized up

iTunes logoiTunes minus the player: hack your Apple beats

Mac Secrets Dodge the shareware sledgehammer

OracleOracle plans cloud strategy

Exclusive Larry smells money in madness