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May 25, 2006updated 19 Aug 2016 10:10am

Things to do when you’re bankrupt: Buy some champagne

Server maker Silicon Graphics Inc (SGI) is gathering a bunch of hacks to its breast at the uber-trendy Kettners Champagne Bar in London's Soho next month. Nothing strange in that, other than the fact that earlier this month SGI filed for Chapter 11

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Server maker Silicon Graphics Inc (SGI) is gathering a bunch of hacks to its breast at the uber-trendy Kettners Champagne Bar in London’s Soho next month. Nothing strange in that, other than the fact that earlier this month SGI filed for Chapter 11 bankruptcy protection.

After years of struggling to catch the wave in high performance computing with its Linux-based and Itanium-based Altix supercomputers, SGI filed for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the Southern District of New York in early May.

Still, it’s not all doom and gloom, as the company said it will file a plan of reorganization “shortly” and that it expects to emerge from bankruptcy protection within six months.

Anyway in June the champagne will flow and we’re promised an audience with the company’s CEO, Dennis McKenna, who will no doubt be looking to explain how the company intends to bounce back, and that things aren’t as bad as they seem after all. Will your loyal CBR servant and blogger be there? You only need say the word to answer that one: no, not ‘bankruptcy’, ‘champagne’. I’ll tell you what he says in a future posting.

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