Hayes closing its doors

From: Richard A. Cini <rcini_at_msn.com>
Date: Wed Jan 6 07:40:26 1999

In case no one saw this in the paper this morning:

    "The Hayes Corporation, a company that once dominated the
personal-computer modem business, is shutting down after failing to find a
buyer. About 250 employees were laid off on Monday, leaving only a handful.
The company sought protection from creditors in October, in its second trip
to bankruptcy court in the 1990's, and attempted a reorganization under
Chapter 11 on the United States Bankruptcy Code as it talked to potential
buyers. But its primary lender notified the company that it would not
continue efforts to keep Hayes alive. Hayes owes some $42 million ot
creditors that includes NationsCredit, Lucent Technologies, and Rockwell
Semiconductor Systems."

    Another one "bytes" the dust...

-------------------------------------------------
Rich Cini/WUGNET
 <nospam_rcini_at_msn.com> (remove nospam_ to use)
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 - MCP Windows 95/Windows Networking
Received on Wed Jan 06 1999 - 07:40:26 GMT