Franklin Goes Chapter 11
from the August 1984 issue of Australian Micro Computerworld magazine
Franklin Computer, maker of Apple-compatible computers, has filed for reorganisation under Chapter 11 of the US Federal Bankruptcy Code.
In a prepared statement, Franklin president, Morton David said the company was experiencing falling sales and a “strain in financial resources’. To date, the company has about $US33.9 million in assets and $US22.8 million in liabilities, a spokesperson said.
The company owes significant sums to at least 20 unsecured creditors.