Modem manufacturer, Hayes, has filed for bankruptcy protection under Chapter 11 of the US Bankruptcy Code for the second time in five years.
Hayes will continue operating while developing a plan to re-organise the company around its core technologies. According to Hayes, the European operation is profitable and will not be affected by the Chapter 11 move.
Analysts said Europe is a year and a half behind the US on moving to cable and ADSL technology, but that we can expect the analogue modem market in Europe to erode as it has in the US over the next 3-5 years.
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