Mandriva Linux Maker Could Face Bankruptcy in 10 Days

It was just a few months ago that Mandriva Linux 2011 made its official debut, but now it looks like the company behind it may soon be forced to close its doors.

Mandriva has been suffering from leadership and financial problems for some time, leading along the way to the creation of a separate fork called Mageia.

Recently, however, the software's French publisher revealed that several efforts to increase the company's capital had been rejected by a key shareholder, with the result that it will likely declare bankruptcy on Jan. 16.

'I Will Declare Bankruptcy'

“I regret to inform you that none of the recapitalization schemes that were proposed at the meeting of shareholders on December 5 was accepted,” wrote Mandriva CEO Dominic Loucougain in a letter to shareholders dated Dec. 23, 2011, and published on the Mandriva Forum on Friday.

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