Ravaged Daisy Systems Corp, which has retreated to Boulder, Colorado from its former Mountain View home, has got some breathing space from its principal secured lender, Heller Financial Inc, which has guaranteed up to $4.5m of its purchases of workstations from Sun Microsystems Inc, enabling it to buy the things on favourable payment terms where it has had to pay cash on delivery for the past several months. Daisy says it can now buy enough hardware to fulfill an increasing backlog of orders, thereby, it hopes, generating enough cash to enable it to continue operations and implement its restructuring programme. Heller also agreed to extend the date of the standstill termination agreement on Daisy’s default on loans to Heller to May 1, 1990.
