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VisionTek to Close?
(Click here to view the original thread with full colors/images)
Posted by: TotalRecall
HardOCP reports:
While VisionTek experienced some problems earlier this year with financial debt, it was thought that all was going well for this U.S. based company from Northern Illinois. We have come to find out this weekend that all is far from well at one of our fave VidCard builders. It seems as though VisionTek is in utter financial shambles and a trustee has been appointed to come in and liquidate all the assets of the company.
Bankruptcy no. Foreclosure yes. It is understood that the trustee is there in order to recoup as much money from the current VisionTek assets in order to pay back dept to the bank(s) with interest in this matter. So what is seems will happen is that VisionTek will simply cease to exist.
Thanks to our forums and Digital Silence for the news.
Posted by: c0re
From what i recently heard visiontek stated these rumors were false.
Posted by: Kdr Kane
 Quote:
Originally posted by c0re
From what i recently heard visiontek stated these rumors were false.
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VisionTek has responded this afternoon (Monday, August 19, 2002) with the following statement.
Here is our official statement in reaction to HardOCP.com's recent post:
"An Assignee / Trustee has been appointed, and will attempt to maximize the value of the company's assets. His belief is that the assets have a higher value as a "turn-key" operation than in a liquidation. The Trustee is continuing to operate the company to determine if a sale is a viable alternative to a liquidation, and he is currently talking to interested parties. The company is continuing to take orders, ship products, and honor rebates."
John Malley
Director of Marketing & PR
VisionTek
Seems to be confirmed to me.
Posted by: Kdr Kane
We aren't going to get much more information than this considering Visiontek is a privately owned company.
They don't have to follow SEC rules.
I'd consider all warranties and future support questionable.
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