by Anna Filatova
02/12/2002 | 11:36 PM
Much to our regret, we can witness soon a bankruptcy of another well-known company – German ELSA. It has officially reported that 7 of its 8 banks-creditors already refused on February 15 to prolong credit agreements, and the 8-th, the last one, is intending to do it on March 30.
The total amount of credit debt equals to 38 million Euros, and the company reports that it hasn’t found alternative sources for its coverage yet. ELSA board of directors is now considering the possibility of launching the formal procedures of bankruptcy announcement. <%BANNER[article]%>
Generally speaking, the company’s credit obligations are rather insignificant and could be easily handled by any video chip manufacturer ;) The question is, whether this manufacturer needs ELSA trademark.