Path: utzoo!utgpu!jarvis.csri.toronto.edu!mailrus!csd4.milw.wisc.edu!leah!rpi!itsgw!steinmetz!davidsen
From: davidsen@steinmetz.ge.com (William E. Davidsen Jr)
Newsgroups: comp.sys.ibm.pc
Subject: Re: Leading Edge
Message-ID: <13294@steinmetz.ge.com>
Date: 2 Mar 89 19:31:08 GMT
References: <1861@mit-caf.MIT.EDU>
Reply-To: davidsen@crdos1.UUCP (bill davidsen)
Distribution: na
Organization: General Electric CRD, Schenectady, NY
Lines: 34

In article <1861@mit-caf.MIT.EDU> vlcek@mit-caf.UUCP (Jim Vlcek) writes:
| A friend of mine told me today that Leading Edge is just about ready
| to go bankrupt.  Is this true?  Anyone have any details?
 ________________________________________________________________________
|
|	Article from the _Capitol Area Microcomputer Society_ newsletter
|		March 1989 edition, by bill davidsen
|________________________________________________________________________


                       Leading Edge Goes Belly-up

  Leading Edge Hardware Products, Inc entered chapter 11 bankrupcy last
week. This blocked sale of the tradmark and resaling rights to PC
Systems, Inc, which was to buy the rights and assume the debts.

  PC Systems in West Palm Beach, Fla, is the largest creditor of Leading
Edge. They were to get rights for the amount of their credit to LE,
$921,000. Leading Edge had the interesting policy of requiring dealers
to ship payment in advance for machines before they were shipped. At the
time LE filed chapter 11 about $11 million of the prepayments had
disappeared. The status of warrantee coverage for LE is *very*
uncertain, as is availability of parts from the factory.

| -- 
| Jim Vlcek
| vlcek@caf.mit.edu
| !{harvard,rutgers}!mit-eddie!mit-caf!vlcek

  Info from electronic news and _Computer Retailer_.
-- 
	bill davidsen		(wedu@ge-crd.arpa)
  {uunet | philabs}!steinmetz!crdos1!davidsen
"Stupidity, like virtue, is its own reward" -me