Hayes closing its doors

From: Don Maslin <donm_at_cts.com>
Date: Wed Jan 6 13:22:02 1999

On Wed, 6 Jan 1999, Richard A. Cini wrote:

> 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)
> - ClubWin Charter Member (6)
> - MCP Windows 95/Windows Networking
 
Pity they did not accept the offer to be taken over by US Robotics during
one of their Chapter 11 events.
                                                 - don
 
Received on Wed Jan 06 1999 - 13:22:02 GMT