#CBM Australia near death
The following is an abstract of an article posted via the Newsbytes online news
service, which caters to industry news and trends.
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In an article dated 11 Feb 1994, by Paul Zucker of Computer Daily
News, it was reported that Commodore Australia is precipitously close
to failure and is expected to be sold next week.
Max Donnelly, of the accounting firm Ferrier Hodgson was appointed
administrator of the company after the company directors deferred for
personal reasons. Donnelly commented that the company was unable to
service a bill due that day, despite AU$40M in sales for the last
year. The primary creditors are Commodore International and Westpac
Bank. All indications now are that the company will be sold in the
immediate future, but the overall implications of this sale on
Commodore as a whole are unclear at best. The article cited CBM Aus
MgDir Pat Byrne as a possible buyer.
In related commentary, IDC analyst Graham Penn attributed Commodore
Australia's problems to strong pushes into retail by the large-scale
PC manufacturers.
—
John W