Zalman files for bankruptcy

[CAT-THE-FIFTH]

This came out of the blue:

http://www.kitguru.net/components/co...or-bankruptcy/

In 2011 around 60 per cent stake in Zalman Tech was purchased by Moneual, a maker of consumer electronics from South Korea that sells robotic vacuum cleaners in the U.S. Unfortunately, the company used Zalman’s reputation and successful track-record to falsify its export data and illegally obtain credits from various South Korean banks under guarantees issued by the Korea Trade Insurance Corp. (K-Sure), reports the Korea Times. K-Sure issued the guarantees backed by the export records, shipping documents and bank statements.

Moneual’s debts total 3.2 trillion won ($2.98 billion). The company began insolvency procedures in October because it failed to pay a part of the debt.

[MrRockliffe]

Blimey yes it does! When I think about it though, it doesn't seem that surprising; I don't often see people buy anything from Zalman. I own a case from them, and considering its price I wouldn't buy another. Even so, I've not seen anything about them struggling.

[scaryjim]

... Even so, I've not seen anything about them struggling.

That's because Zalman are not struggling. As it explains in the article (and indeed in the section CAT quoted), the company that bought 60% of Zalman in 2011 used Zalman's reputation (and falsified revenue figures) to borrow large amounts of money, which it not cannot repay. The insolvency protection Zalman have filed for has nothing to do with their own performance - it's entirely down to their majority owner also having to file for bankruptcy due to mismanagement.

If they enter receivership, I'd expect Zalman to be sold off as a going concern, given their good reputation and product portfolio - it's likely to be worth more as a functioning company than as a set of physical assets - unless it's got some tasty IP, of course, in which case all bets are off.

[Pob255]

it's crap like this where good companies are ruined by others that really annoys me.

[themandark_uk]

Must admit i stopped using there stuff a couple of years ago due to bad hardware.

[KeyboardDemon]

I've had a few Zalman Coolers over the years, I love that iconic flower design. They made the first coolers that I owned with fans that were larger than 80mm at a time when 40mm and 60mm fans were the norm, I think my last Zalman HSF had a 92mm fan.

I haven't always bought Zalman but have always thought of them as pioneers, I hate it when I see a great company like this being dragged down by factors outside of their control. I hope that someone is able to step in and look after the company and offer job security to their engineers and workforce.

[CAT-THE-FIFTH]

Zalman denies they are bankrupt:

http://www.tomshardware.co.uk/zalman...ews-49213.html