Tough times for Tiger Telematics; filing for bankruptcy in UK
The video game world has been rocked by the news that one of the true giants of the industry has filed for bankruptcy protection in the UK, their homeland. At least that's the way Tiger Telematics would prefer the headline to read; in fact it reads something closer to this: comically ugly video game console hemorrhages money, almost kills company.
The bankruptcy filing surfaced today in an explanation to the SEC regarding plans for their US operations. While Gizmondo Europe "made a reduction in payroll of approximately 50% of monthly staff costs during the week prior to the court application," operations elsewhere continue unabated. "The action does not affect any other subsidiary of the Company including its United States operations and sales under Gizmondo USA Inc."
Does this mean the tens of fans clamoring for the widescreen version will be disappointed?
[Via Engadget]
