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May 4, 1994

COMMODORE THROWS IN TOWEL, SETS ORDERLY LIQUIDATION

By CBR Staff Writer

Home computer pioneer Commodore International Ltd has given up on the unequal struggle and has set in process an orderly liquidation of its assets. The board authorised transfer of the company’s assets to trustees for the benefit of creditors and placed its Commodore Electronics Ltd unit into voluntary liquidation. The moves are intended to be the initial phase of an orderly liquidation of both companies, which are incorporated in the Bahamas, by the Bahamas Supreme Court. The final straw for the West Chester, Pennsylvania company was poor sales of the Amiga CD32 video games machine, which sold poorly in Europe, where Commodore has been doing most of its business of late. The liquidation leaves a horde of orphaned Amiga users: a decade ago, the machine already offered many of the multimedia features that are only now becoming commonplace, but Commodore was never able to win a critical mass of applications for it.

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