Today, a German, court-appointed administrator aggreed with that assesment, deciding that Escom had little capital to even make it through talks with its creditors.
The AP reported that this does not mean the end of Escom and that they could still shake off their current woes with a new influx of investor capital. However, as we reported earlier, Escom has already tried that in weeks past with little success.
Escom's troubles began last year when new competition from off-shore producers like Acer lowered prices and demand for PCs in Europe weakened, bloating inventories and draining much-needed cash.
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