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Excel randomly trashes file/paths in hyperlinks - any suggestions?

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I have Excel 2010 32bit on Windows 7. I store a lot of master data in a few Excel files and reference the source of that data with a hyperlink to the data. Sometimes that is another file. Excel randomly trashes it. Here is an example.

I put in the following:

C:\Users\username\Documents\MB Files\xx\Pricing Margins and TLPs\TLPs\2013\2013 xx xx xx xx xx 20121218.xlsx

This works until it doesn't. Can be the next day or in 2-3 months. HEre is what is in the hyperlink now.

..\..\..\Documents\MB%20Files\xx\Pricing%20Margins%20and%20TLPs\TLPs\2013\2013%20x%20x%20x%20x%20x%2020121218.xlsx

I have no idea what triggers this. When I click on the hyperlink, Excel reports:

Microsoft Excel - Cannot open the specified file - OK


Ed


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