FRANKFURT -- German memory-chip maker Qimonda (QI) declared bankruptcy Friday, just a month after receiving a rescue package of millions of euros in loans.

The administrative court in Munich, Qimonda's base, confirmed media reports that the company had declared bankruptcy, but could provide no further details.

Qimonda refused immediate comment.

The company in December secured a rescue package of 325 million euros ($421.98 million) in loans from the government of Saxony, parent company Infineon ( IFX) and a Portuguese state bank in order to try and stave off bankruptcy.

Makers of computer memory chips have been hit hard by falling prices and an oversupply of products.

Infineon spun off Qimonda in 2006 but still holds a 77.5% stake.

Qimonda has more than 12,000 workers worldwide, with some 3,500 in Saxony, 1,500 in Munich and also several thousand in Portugal.

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