Emblaze head: Bankruptcy would mean 6,000 layoffs
Emblaze chairman Eli Reifman said the banks would not make capital available if the comapany is put in receivership.
According to Reifman such a court order would deal a lethal blow to the possibility of raising money from various sources as part of the struggle for control of Emblaze because the banks would not make capital available in such a situation. Reifman made clear that if he fails in his bid to save the company from being taken over, the 6,000 employees would be laid off. He claims that the aim of those trying to take over Emblaze is to empty out the company.
Reifman is one of the founders of technology group Emblaze and owns 17% of the company. The company's share has lost 43% of its value over the past year and two months ago Globes revealed Reifman's involvement in grey market debts.
Published by Globes [online], Israel business news - www.globes-online.com - on January 25, 2009
© Copyright of Globes Publisher Itonut (1983) Ltd. 2009
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