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An Investment Firm is forcing OCZ SSD drive manufacturer to bankruptcy

OCZ LogoOne of the major SSD (solid state drive) manufacturers, OCZ is being forced to bankruptcy by an investment firm which lent them a mere $30 million. The firm is Hercules Technology Growth Capital, and they are forcing the bankruptcy because some clauses in their meager $30 million lending contract have been breached.

As a consequence, the company is preparing for bankruptcy. In case this goes through, a major SSD manufacturer will be totally destroyed, and Toshiba will buy up all the assets that belonged to OCZ, removing a major competitor in the market for SSDs.

Read more details here

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By sketweb


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