Hayes Europe says bankruptcy won't effect business

NEWS Hayes Corporation's bankruptcy filing will not affect its European business, according to the company's European managing director. Nigel Croisdale told Silicon.com that business is still booming in Europe as the modem market had yet to reach the same saturation point that is affecting his American counterparts. He said: "We have separate supply relationships to our parent company so it will not affect operations on a day to day basis. The analogue modem market is more difficult in North America but it more buoyant in Europe. The modem market is not as mature here and we are still on the up ramp of the v.90 growth." Hayes Corporation filed petitions for Chapter 11 on Friday in an attempt to seek protection from its creditors. Croisdale claimed this would enable the company to continue the restructuring plans designed to resize operations so as to put business on a securer financial footing.