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Cash to carry on: Overland Storage.


Cash To Carry On: Overland Storage, a San Diego provider of data storage systems, said it closed an accounts receivable transaction of up to $9 million with Marquette Commercial Finance, giving the company the cash it was seeking for months. Overland, which reported a net loss of $24.6 million for the 2008 fiscal year that ended June 30, cut 53 employees in August as it attempted to survive a protracted downturn. The company had been seeking $10 million in financing to maintain operations.

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Title Annotation:Monday, Dec. 1
Author:Allen, Mike
Publication:San Diego Business Journal
Article Type:Brief article
Geographic Code:1U9CA
Date:Dec 8, 2008
Words:84
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