Mandrake soft declares bankruptcy~

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Mandrake soft declares bankruptcy~

Postby Aadil » Sat Feb 01, 2003 4:41 am

Prolly old news but since this is a linux forum and i didnt see it posted over here..

MandrakeSoft, the developer of the popular Mandrake Linux distribution, declared bankruptcy in France today. The filling, which the company says is "similar to the U.S. Chapter 11-Reorganization," is hoped to help the company escape the financial issues that have plagued the company over the past few years.

Editor's Note: Several people have suggested that this article gives the impression that MandrakeSoft has gone out of business. This is definitely not the case. The company is hoping to use these proceedings to escape various debts so that it can continue operations.

This announcement seems to be the culmination of rumors over the past few days about the future of MandrakeSoft. Earlier this week various media outlets reported that an internal memo from Chairman and former CEO Jacques Le Marois, that discussed an upcoming bankruptcy filling, was circulating. As late as yesterday, company co-founder Gaël Duval was attempting damage control, telling NewsForge that the company was considering several different actions and that several investors had made "offers" to the company.

The move was not totally unexpected, with the Paris, France, developer issuing an urgent plea for financial assistance back in December. While many had condemned such statements from the company, it was hoped that users of the free, downloadable version of Mandrake Linux would join the MandrakeClub (a nice service that provides various downloads, access to developer interviews, and, most recently, the ability to vote on which packages should be in release 9.1) in lieu of purchasing a shrink-wrapped version of the operating system.

According to the press release issued by MandrakeSoft earlier today, the schedule for Mandrake Linux 9.1 should stay on course. Incidentally, the first beta of that release was made available last week to those interested in previewing the system's new upgrades.

In September, Open for Business discussed MandrakeSoft's future with Mr. Duval, an that interview you can find here. For further information, you can find the recent request for financial assistance here and today's statement here.

We will continue to report the latest information as it becomes available to us.

THE LINK: http://www.ofb.biz/modules.php?name=New ... le&sid=192
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Postby fawad » Sat Feb 01, 2003 5:11 am

This is _really_ old news (by Linux standards, anyway). And it may not be a big deal, depending on what the outcome is. Chapter 11 is just a filing for reorganization (IMHO). Doesn't neccesarily means that the company will go away.

In my own opinion, Mandrake has been a case of a good project with bad management. Mandrake has gotten support time and again from different sources, but somehow they've managed to mess up the company anyway. I sure hope they can come out of bankrupcy, as theirs is a damn fine product.
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MandrakeSoft status

Postby mahin » Sat Feb 01, 2003 11:51 am

This is what they are saying officially and I received it two days ago.

I think they have learnt their lesson and the chances are that they will be around for some time. In case some thing happens then we have Mandrake 9.0 [ soon 9.1 ] as a starting point because from that version onward it is entirely GPL :) nothing will be lost.

If some of you are ready [ minimum 25 PLUC members ] then we can request for a special discounted rate. IF you are willing then send me PM giving your real name, postal address and email . If I receive sufficient numbers then will proceed. It is about time that we as Pakistani's give some thing back to help save Mandrake. This is more important now that Mandrake has been gradually providing more support for Arabic Script Based Languages among all main line Distro's. We need to support Mandrake not for the sake of saving Mandrake but for our sake.


Flash: MandrakeSoft status
-----------------------------------------------------

On January 27th, 2003, confirmation was received from the French
Commercial Court that MandrakeSoft had been granted a six month
observation and protection period to establish a continuation plan. This
protection period provides the ability to renegotiate the Company's
current liabilities. A court-appointed administrator has been named to
assist MandrakeSoft during this process.

MandrakeSoft welcomes this latest news as a positive step to achieving
solid financial restructuring which will make the company profitable.

We would like to take this opportunity to thank all Mandrake
supporters who purchased Club memberships and Club renewals or boxed
products as a response to the December membership drive. Your
participation allowed MandrakeSoft to enter the current proceedings
optimisticly and in a position of strength.

The level of Club subscriptions will also greatly influence the speed
of the company returning to a normal situation.

Club members get full advantage of membership benefits & privileges
such as rebates, direct download of hundreds of applications, and
the right to vote for software that will be included in the next
version of Mandrake Linux.
http://www.mandrakelinux.com/en/club/
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