Couldn’t turn it around
In a short statement, German PC and server manufacturer and owner of the Belinea brand of displays has announced that it filed for insolvency proceedings at a local court in Essen today.
It gave the immediate reason as “pending illiquidity” and the broader cause as “The high pressure of the competition and the immense fall in prices in the IT industry.”
The company is now in the hands of administrators, which is working with the board to rescue what jobs it can and deciding what to do with the brands. There was no country specific information given.
Press release: MAXDATA AG filed for insolvency proceedings
