Featured Articles

HP Stream is a Chromebook killer priced at $200

HP Stream is a Chromebook killer priced at $200

We have been hearing reports of a new breed of affordable Windows notebooks for months. It is alleged that a number…

More...
AMD Radeon R7 SSD line-up goes official

AMD Radeon R7 SSD line-up goes official

AMD has officially launched its first ever SSDs and all three are part of AMD’s AMD Radeon R7 SSD series.

More...
KitKat has more than a fifth of Android users

KitKat has more than a fifth of Android users

Android 4.4 is now running on more than a fifth of Android devices, according to Google’s latest figures.

More...
Aerocool Dead Silence reviewed

Aerocool Dead Silence reviewed

Aerocool is well known for its gamer cases with aggressive styling. However, the Dead Silence chassis offers consumers a new choice,…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Thursday, 28 November 2013 04:53

OCZ Filing for Bankruptcy

Written by Rob Squires



Toshiba to pick up the pieces

According to the Wall Street Journal website MarketWatch.com, it appears that SSD manufacturer OCZ Technology is on it's way to filing for bankruptcy. OCZ announced today that that on earlier this week it had received notices that Hercules Technology Growth Capital, Inc. had taken control of their depository accounts at Silicon Valley Bank and Wells Fargo Bank.

An offer from Toshiba to acquire all of OCZ's assets in a bankruptcy proceeding is currently on the table, pending approval by the courts.  If the offer is not accepted by the courts, it can be expected for a petition for bankruptcy to be filed and liquidation of all assets to follow.

OCZ stock price has fallen close to 75% so far this year from a trading high of $10.94. At the close of the market on Wednesday, shares were priced at 16 cents.

Last modified on Thursday, 28 November 2013 09:14

Rob Squires

E-mail: This e-mail address is being protected from spambots. You need JavaScript enabled to view it
blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments