Maxdata, maker of Belinea TFT and CRT monitors, as well as servers, desktops and notebooks, has filed for insolvency in Essen, Germany.
Company management claim that "the high pressure of the competition and the immense fall in prices in the IT industry,
" have been eroding Maxdata's market position for sometime, and have chosen to file for insolvency due to the the threat of pending illiquidity.
This news comes after an unsuccessful restructuring program for the company which was attempted in 2006, which seems to have been a case of too little too late for Maxdata, as the turnaround couldn't be achieved in 2007, or so far in 2008.
Maxdata has also applied for insolvency proceedings to be opened for subsidiaries in Germany and abroad, including sales offices in the UK, Spain, Italy, France and Austria.
The question now is how many other smaller hardware manufacturers and sellers will we see go under due to the global credit crunch, and increased competition from the far east? With the significant downsizing of Komplett
earlier this week, and now this, it seems doubtful that Maxdata will be the last victim.
Have you ever owned a Maxdata product? What other companies can you see being next on the credit crunch chopping block? Let us know in the forums