[ale] ZDNet UK News: Mandrake Linux files for bankruptcy

[geek0goddess at netscape.net]

This ZDNET UK News story has been forwarded to you by geek0goddess at netscape.net.

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Mandrake Linux files for bankruptcy

Stephen Shankland 


MandrakeSoft, the financially strapped creator of the Mandrake version of
Linux, said on Wednesday it has filed for the French equivalent of
bankruptcy protection from creditors.

In a statement on the company's Web site, the Paris-based company said
its financial liabilities prompted it to file for "declaration de
cessation des paiements," the French equivalent of Chapter 11 bankruptcy
protection. The move allows the company to take court-overseen actions
such as renegotiating its debt while continuing its operations.

MandrakeSoft last month issued a plea asking customers to boost the
company's revenue by buying products and subscribing to Mandrake clubs.
The company also has been creating products that expand into corporate
markets.

Mandrake's revenue has been increasing and its expenses decreasing, but
the company remains unprofitable thus far. The company's stock is
publicly traded on an unregulated European market.

While the company is based in Paris, the largest fraction of its revenue
comes from North American buyers. It competes with better-established
Linux sellers such as Red Hat and SuSE.

Version 9.1 of Mandrake Linux software is expected in April, the company
said.

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