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June 21, 1990


By CBR Staff Writer

Daisy Systems Corp, now in Boulder, Colorado, has moved a big step nearer oblivion with the news that its secured lender, Heller Financial Corp, has refused to extend the standstill agreement that froze the consequences of Daisy’s default on loan repayments, beyond June 25. As a result, Daisy will not be able to buy all the Sun Microsystems Inc workstations it needs to meet orders in the US, and will see a slump in business in the third quarter compared with the second. The company is seeking third party cash to fund its operations, and says that the situation should be rather better here in Europe, where it thinks it is close to agreement with a number of interested parties here. Racal Electronics Plc’s Racal Redac subsidiary, which bought part of the company’s Cadnetix acquisition, may well be interested buying more.

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