Just 24 hours after Rodime Plc announced that it was phasing out manufacturing operations as a prelude to liquidation, another small disk drive pioneer, Longmont, Colorado-based PrairieTek Corp threw in the towel and advised that it is immediately suspending operations at its Longmont and Singapore facilities at the cost of 300 jobs, 100 in the US, the rest in Singapore. The 2.5 Winchester disk drive pioneer blames changing product requirements in the currently volatile computer market and by a major new financing failing to materialise. A small group will be retained to manage an orderly phase-down of the business. PrairieTek had been relying on a group formed by former executives of now-defunct MiniScribe Corp to come up with new finance – PrairieTek thought it had agreement for the sale of 65% of the company to the group, called Innovation Group Limited Liability Co in July (CI No 1,712). In the end the group was unable to raise sufficient finances.
