vlcek@mit-caf.MIT.EDU (Jim Vlcek) (02/23/89)
A friend of mine told me today that Leading Edge is just about ready
to go bankrupt. Is this true? Anyone have any details?
--
Jim Vlcek
vlcek@caf.mit.edu
!{harvard,rutgers}!mit-eddie!mit-caf!vlcekwsa@genrad.com (Bill S. Angevine) (02/23/89)
In article <1861@mit-caf.MIT.EDU> vlcek@mit-caf.UUCP (Jim Vlcek) writes: >A friend of mine told me today that Leading Edge is just about ready >to go bankrupt. Is this true? Anyone have any details? >-- >Jim Vlcek >vlcek@caf.mit.edu >!{harvard,rutgers}!mit-eddie!mit-caf!vlcek According to this weeks PC WEEK (pg 8) Leading Edge Products Inc of Canton MA filed for Chapter 11 bankruptcy. The article states that Leading Edge holds $17.1 million in assets against $36.2 million in debt. The $36.2 million includes the missing $11 million prepayment by Dealers for PC's that were never delivered. In addition the FBI has started a probe into Leading Edge. "Other than that Mrs Lincoln, how was the Play?" Bill "Standard Disclaimer"
Vaprak@cup.portal.com (John C Foy) (02/24/89)
according to Online Today (CompuServe), they have a suit on their hands from six dealers. Basically, the dealers paid LE somewhere around $773,000 as advanced orders and LE has not been able to deliver. As I understand it, LE saw the suit coming on and filed chapter XI. Vaprak@Cup.Portal.Com Sun!Cup.Portal.Com!Vaprak
tmurphy@wpi.wpi.edu (Tom [Chris] Murphy) (02/27/89)
In article <1861@mit-caf.MIT.EDU> vlcek@mit-caf.UUCP (Jim Vlcek) writes: >A friend of mine told me today that Leading Edge is just about ready >to go bankrupt. Is this true? Anyone have any details? >-- I heard that there was some high-level management person in legal trouble, but the company was not in difficulty. Having recently purchased a D2, I hope the company hangs around.... p.s. I would be interested in getting in touch with other D2 owners regarding expansion and such. -- Thomas C. Murphy Worcester Polytechnic Institute CAD Lab Internet: tmurphy@zaphod.wpi.edu tmurphy@wpi.wpi.edu BITNET: TMURPHY@WPI CompuServe: 73766,130 "I drank what?" - Socrates
tmurphy@wpi.wpi.edu (Tom [Chris] Murphy) (02/27/89)
In article <1038@wpi.wpi.edu> tmurphy@wpi.wpi.edu (Tom [Chris] Murphy) writes: >In article <1861@mit-caf.MIT.EDU> vlcek@mit-caf.UUCP (Jim Vlcek) writes: >>A friend of mine told me today that Leading Edge is just about ready >>to go bankrupt. Is this true? Anyone have any details? >>-- > >I heard that there was some high-level management person in legal trouble, >but the company was not in difficulty. Having recently purchased a >D2, I hope the company hangs around.... So much for that source, I'll have to fire him. Now I'm REALLY interested in hearing from other D2 owners. -- Thomas C. Murphy Worcester Polytechnic Institute CAD Lab Internet: tmurphy@zaphod.wpi.edu tmurphy@wpi.wpi.edu BITNET: TMURPHY@WPI CompuServe: 73766,130 "I drank what?" - Socrates
davidsen@steinmetz.ge.com (William E. Davidsen Jr) (03/03/89)
In article <1861@mit-caf.MIT.EDU> vlcek@mit-caf.UUCP (Jim Vlcek) writes: | A friend of mine told me today that Leading Edge is just about ready | to go bankrupt. Is this true? Anyone have any details? ________________________________________________________________________ | | Article from the _Capitol Area Microcomputer Society_ newsletter | March 1989 edition, by bill davidsen |________________________________________________________________________ Leading Edge Goes Belly-up Leading Edge Hardware Products, Inc entered chapter 11 bankrupcy last week. This blocked sale of the tradmark and resaling rights to PC Systems, Inc, which was to buy the rights and assume the debts. PC Systems in West Palm Beach, Fla, is the largest creditor of Leading Edge. They were to get rights for the amount of their credit to LE, $921,000. Leading Edge had the interesting policy of requiring dealers to ship payment in advance for machines before they were shipped. At the time LE filed chapter 11 about $11 million of the prepayments had disappeared. The status of warrantee coverage for LE is *very* uncertain, as is availability of parts from the factory. | -- | Jim Vlcek | vlcek@caf.mit.edu | !{harvard,rutgers}!mit-eddie!mit-caf!vlcek Info from electronic news and _Computer Retailer_. -- bill davidsen (wedu@ge-crd.arpa) {uunet | philabs}!steinmetz!crdos1!davidsen "Stupidity, like virtue, is its own reward" -me