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October 9, 1991


By CBR Staff Writer

The Beaverton, Oregon-based Floating Point Systems Inc has had a very unhappy coming of age. The 21-year-old company, which likes to be known as FPS Computing these days, has given up what has long looked a very unequal struggle and has filed for reorganisation under Chapter 11 of the US Federal Bankruptcy Code.A court clerk in the US Bankruptcy Court for the district of Or-egon told Reuter that the company had filed only the minimal documents for Chapter 11 protection and had not yet provided an outline of its reorganisation plan. The company confined itself to a statement late Tuesday that it was making the filing, but declined further comment. The brief bankruptcy court document listed 20 creditors, of which the largest are Bipolar Integrated Technology Inc of Beaverton, NW PAC Indemnity of Warren, New Jersey, Wyle Laboratories Inc of Santa Clara, California, Korea Computer Inc of Seoul, Korea, and Hitachi Chemical Co of Tucker, Georgia. Any outside help for the company, which now builds minisupercomputers around Sparc RISC microprocessors, is most likely to come from Japan, where Canon Inc bought its sales arm.

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