It’s no fun being a new company pioneering a new small disk format these days – no sooner do you get it established than the majors move in with their own products and steal the market. MiniStor Peripherals International Ltd, San Jose pioneer of 1.8 drives, has ceased operations despite having Hitachi Ltd as an investor, manufacturing and strategic partner, and says it will file for bankruptcy under Chapter 11 of the US Bankruptcy Code before liquidating its assets. It has laid off the balance of its employees, blaming lack of working capital. MiniStor Peripherals Corp and MiniStor Peripherals Singapore Pte are also included.
