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MandrakeSoft Files for Bankruptcy Protection
An anonymous reader writes "It's official: MandrakeSoft has filed a 'declaration de cessation des paiements' - the French equivalent of a U.S. Chapter 11 bankruptcy filing. From a statement issued by the company: 'This reorganization of liabilities enables MandrakeSoft to continue its current operations, which are showing increases in revenue and significant decreases in expenses. MandrakeSoft's strategic partners are supporting the company in this process and the MandrakeSoft team is focused on continuing to deliver high quality services and products to its customers.' Best wishes to MandrakeSoft as they work through this process."
Read all about it: Mandrake kept rapidly losing money even though they have less employees then some StarBucks restraunts, were awarded funding by European governments, and got free hordes of cash from sympathizers! Mandrake has pitifully poor marketing and management! Who didn't see this coming?!
I guess selling free software doesn't pay what it used to.
I know 2 kernel hackers that run Mandrake. Users that tend to bitch about like to think that they are technically oriented.
All well and fine, but they did file bankruptcy on the 13 (check the articles again), which is a day after the story broke. One of two things is happening imho:
1. They are lying, which brings up a whole slew of bad possibilities.
2. Duval had no idea that they had already submitted bankruptcy.
Oh and also your post assumes that chapter 11 in France (bankruptcy protection) is the same as the US. Dangerous thinking, should never assume anything. Todays message is very ambiguous, chapter 11 like protection? What does that mean in France? For all we know they maybe selling out and moving to Southern France...
StarTux
PS I hope that I am wrong, but no way to prove otherwise. Only thing to do is wait and see.