Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Non-Tech : Iomega Thread without Iomega -- Ignore unavailable to you. Want to Upgrade?

To: Cogito who wrote (3002)	11/3/1998 10:50:00 AM
From: Dale Geffrey	Respond to of 10072

Here's the story on SyQuest: Tuesday November 3 10:06 AM EDT Syquest Suspends Operations FREMONT, Calif. (Reuters) - Computer storage device maker SyQuest Technology Inc (Nasdaq:SYQT - news) Monday suspended operations and said it may file for a Chapter 11 bankruptcy reorganization. In a statement, the company said it requested a halt to trading in its securities. SyQuest stock last traded at 34 cents, up three cents on the day, before trading was halted. SyQuest, a maker of removable storage devices and related products for computers, said it will maintain a limited support staff for customer service while operations are suspended. In recent years, SyQuest has faced brutal price competition for its products and battled for market share with Utah-based rival Iomega Corp. (NYSE:IOM - news) As recently as August, SyQuest said it would lay off 950 employees and end manufacturing at its Fremont, Calif. plant. It employed just over 1,100 people in 1997. Just last week, the company said its lenders cut its credit line to $10.8 million from $30 million. Dale