Ok it's a Netgear switch and its at our DR location, it has our SAN and our ARCA Vault appliance running from it. The switch started not working is now displaying the following error on reboot:

Kernel Panic. Attempting to kill init.

Any ideas? It's running Firmware version 7.3

Blimey, very not good.
Basically the firmware has become corrupt and cannot start.
I hope you have a back up unit.

Time for a firmware reload, details here: FSM7328S, FSM7328PS, FSM7352S, and FSM7352PS Firmware Version 7.3.1.7 (http://kb.netgear.com/app/answers/detail/a_id/5351)

I figured it was a FW issue.