SGI files for bankruptcy

By Justin Mann on May 8, 2006, 10:59 AM
Companies can come and go in the very fickle IT industry, the rise and fall of the dot-coms a perfect example of how supply and demand are incredibly tricky to both provide and predict accurately. It comes without much surprise then that former graphics and server supertar Silicon Graphics is filing for bankruptcy, as they seek to eliminate over $250 Million in debt.

"This is a necessary and responsible step that will strengthen the company and foster a sustained turnaround at SGI," Dennis McKenna, chief executive, said in a statement.
This isn't the first time they've tried to turn the company around, and likely won't be the last. Somehow, though, I feel we just won't be seeing any new tricks out of them. They are still trying, though, and will remain focused on embedded and specialty markets.




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