AFAIK, they are asking for a 'delay of payment' [dutch: uitstel van
betaling] in order to put the company back on track.
Also they're making a deal with their bondholders to exchange their notes
into equity. This is similar to the tricks currently being pulled by
Versatel (and UPC) and is actually quite good news. This Chapter 11
agreement demonstrates strong support by bondholders.
As their CEO says: "We have made significant progress in returning Zilog to
full financial health" and "This . . . gives us maximum financial
flexibility to reinvest in the business".
Their bookings are up 26% from previous quarter and also their new orders
exceeded product shipments.
So although they're in trouble (then again, which tech-company isn't in
current times) they're getting back on track.
Patriek
>ZiLOG (creators of the z80 CPU) has filed for chapter 11.
>
>http://www.siliconstrategies.com/story/OEG20011130S0095
>
>(it's a bit down the page)
>
>What all of this exactly means I do not know (don't ask me about business!).
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