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. Under Chapter 11, acompany is protected from its creditors while it reorganises, which usually takes several years. “We will spare no effort to turn Franklin around,” David said.