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Mac clone maker Psystar files for bankruptcy

Mac clone maker Psystar files for bankruptcy

Psystar, maker of the the Open Computer, has filed for bankruptcy protection.

The papers were filed in a Florida federal court Thursday. Psystar is more than $250,000 in debt, according to the bankruptcy petition, owed mostly to shipping companies, the IRS, and the law firm Carr & Farrell. In the filing, Psystar pins its financial mess on the poor economy.

“Debtor sales have been greatly affected by the decrease in consumer spending. The financial crisis has also caused creditors to tighten up their terms and become more demanding for immediate payment,” the company said in a court document. Psystar also blames its partner vendors’ own financial problems, which resulted in Psystar having to pay higher prices on parts. At that point, Psystar was unable “to turn a significant profit in each sale.”

URL: http://www.hackinthebox.org/index.php?name=News&file=article&sid=31466

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