On Wednesday OCZ announced that its bank accounts had been seized by one of its creditors and that the company would file for bankruptcy, but it did not commit on which of two courses of action it would take:
- To file for bankruptcy and sell itself as an ongoing business to Toshiba
- To file for bankruptcy and liquidate
If the company is sold to Toshiba the bankruptcy court will require an auction to be held to assure that the price that Toshiba pays is the best price that the company can get. This means that there is still the possibility of another company actually acquiring OCZ. Although Seagate was rumored to be interested there are certainly others who are also preparing bids.
OCZ has good technology and a loyal retail customer base, but one year ago Continue reading