Feeds

Ailing French memory maker Dane-Elec granted bankruptcy protection

We shall totally reorganise within two months - bosses

3 Big data security analytics techniques

French memory manufacturer and distributor Dane-Elec has bought itself some time to plot a turnaround strategy after being granted bankruptcy protection by a court in its native country.

The firm was spooked by a string of nasty half year results and entered the "safeguard procedure" on 17 October, which gives it six months to cut costs and restructure.

"The future plan has two aims which are to reboot sales whilst continuing to streamline costs," the business said in a statement.

"Dane-Elec Memory will be able to operate under normal conditions, giving it the margin it needs to finalise and then implement its recovery plan," it added.

Management plan to have redesigned the strategy within two months, the company said.

The Dane-Elec Memory and Dane-Elec trading entities are covered by the bankruptcy protection.

In the half year to 30 June, group sales collapsed to €33.3m (£26.7m) from €47.8m (£38.7m) in H1 2011. Losses shrank from €6.5m to €5.7m (£4.6m), although Dane-Elec said it shaved off €2m "in payroll and external expenses".

Dane-Elec said it has also outsourced logistics in overseas subsidiaries this year and plans to close its manufacturing plant in Ireland by year-end.

Net debts were €18.2m at the end of June, down some €3m since the start of the year. ®

High performance access to file storage

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
It may be ILLEGAL to run Heartbleed health checks – IT lawyer
Do the right thing, earn up to 10 years in clink
prev story

Whitepapers

Securing web applications made simple and scalable
In this whitepaper learn how automated security testing can provide a simple and scalable way to protect your web applications.
3 Big data security analytics techniques
Applying these Big Data security analytics techniques can help you make your business safer by detecting attacks early, before significant damage is done.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.