Memory maker Qimonda files for bankruptcy

01/23, 1:35pm

Qimonda going bankrupt

German RAM producer Qimonda has filed for bankruptcy on Friday in a Munich court, according to a report. The move follows an unsuccessful search for funding of the equivalent of about $384 million which was in addition to an earlier approved deal that would see it get the equivalent of about $415 million. As the original sum still has not been received by Qimonda despite being approved last month, it is believed the company is only days away from insolvency.