MandrakeSoft files for Chapter 11


— 1:51 PM on January 16, 2003

Siddman sent in a link to this breaking news.

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.
And here I thought that Linux was making some inroads into the desktop market. We'll try to update this story as it develops.
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