Tiger Telematics files for bankruptcy in UK

What, you have zero reason to act surprised that Tiger Telematics, creator of the Gizmondo and Smart Adds, is filing for bankruptcy in the UK, their country of origin. We've been following these guys since day one and we're pretty sure there wasn't anyone who didn't see their collapse as absolutely eventual; the filing -- submitted last Friday -- surfaced today in apparent explanation to the SEC of what happens to their US operations. It looks like they'll be seeking Chapter-11-like financial protection for now as they restructure their UK operations, and they're expected to cut 50% of their monthly staffing expenditures (which we're sure, knowing these guys, will start from the bottom up) -- but it'll be biz as usual elsewhere. So, what's Tiger's next step with one foot planted firmly in the grave?

[Thanks, Brian]

[xbit @ Jan 23rd 2006 10:48AM]

I feel sorry for the staff at Tiger. It was obvious from day one that the managers and directors were out to line their own pockets at the expense of their business.

The financial mismanagement during the Gizmondo project is legendary.

[Enko @ Jan 23rd 2006 10:49AM]

Too bad they can't afford a shovel. Though traditionally they would charge the shovel and throw a $3m party to celebrate buying it.

[Dave @ Jan 23rd 2006 10:58AM]

It's not that I'm not surprised. It's just that... this was a lot FASTER than I figured it'd be. Still, I can't help but wonder if I should pick up one of those things once they hit $20 out of the trunk of some guy's car. Seems like most people found it to be a comfortable and decently built device, and it's got a bit of power under the hood...

Gut the firmware and make the perfect emulation / homebrew device, I say!

[bluetrane @ Jan 23rd 2006 11:03AM]

unreal.. these crooks should be thrown in jail ..( or back in jail in the case of some :P )

[Jose Marques @ Jan 23rd 2006 11:43AM]

Well they had a store on Regents st (same st the Apple store is on really expensive rent as well) and every time I passed the store I never ever saw anyone in it..and it was always so dark you could mistaken it for being closed.

[James @ Jan 23rd 2006 12:02PM]

I don't think eventual means what you think it means!

[Maurik @ Jan 23rd 2006 12:52PM]

Does this mean I can pick up one of these with colors on the cheap?

[TZK @ Jan 23rd 2006 1:12PM]

I was hoping to see the GizmondoII wide screen released. Oh well.

[Truz @ Jan 23rd 2006 1:28PM]

Nice, so how long until these things are dirt cheap?

[luna @ Jan 23rd 2006 2:25PM]

Too bad, it seemed like a good product; just ahead of it's time, just like the Tapwave Zodiac palm device. I have a Zodiac1, and it's better than any ipod, personal video player out there. I have Pocket Tunes for .mp3, ogg, wma; TCPMP for movie watching, and Little John Palm for emulation(Nes,SNES,Sega Genesis, master drive, gameboy, gameboy color, TG16,GG)
It has 2 SD slots, so I can fill one with 1Gb sd card full of .ogg songs(15-18 full albums) and the other one with 16 30-minute episodes of the family guy and a 1.5-2 hour movie.

[Chris @ Jan 23rd 2006 2:43PM]

Anyone recall the handheld from Tiger called GameCom?
Oooh man did that stink. When will Tiger learn that shotty imitations are no match for the real thing (PSP > VuGo)?

[Chris @ Jan 23rd 2006 3:11PM]

That was a different Tiger. And I'm a different Chris.

[Paul Whitham @ Jan 23rd 2006 3:31PM]

Actually this is good news for buyers such as myself.
The company will now re-structure, and it's promised to release the games such as Colors, which were ready for release.

[guilt+1 @ Jan 23rd 2006 3:44PM]

Now I don't have to feel guilty about not giving back the free one they gave me last year and I feel slightly less bad about ignoring them since they flew me to LA last year for E3

[Chris Korhonen @ Jan 23rd 2006 4:49PM]

I went in the store on Regent Street just before Christmas, immediately a sales person pounced on me - I looked around and the salesman to customer ratio was around 8:1 - not a nice shopping experience!

Its a shame, the hardware seemed nice and it was a very reasonable price for what it could do - a in-car GPS system for under 200 pounds, which also plays movies etc - bargain! But the lack of games and legal way to get movies/music onto the machines did put me off.

[Oliver @ Jan 23rd 2006 4:57PM]

#11 (Paul) :

Tiger/Gizmondo has promised a lot of things in that past -- what makes you think this time they'll actually do what they promised?

[Threefingeredlord @ Jan 23rd 2006 5:10PM]

They went into administration-so things could be looking up in the future:).

[Brian @ Jan 23rd 2006 9:57PM]

Threefingeredlord wrote:

They went into administration-so things could be looking up in the future:).

Are you serious or delusional? Tiger Telematics has made so many promises that they've failed to deliver, has burned through over $300 Million in shareholders' and investors' money, have executive compensation and "perks" that sound eerily reminiscent of Tyco and Enron execs, and now can't pay their bills and is looking for court protection from creditors seeking payment, and you think things are looking up???

Why any investor would seriously consider lending them any more money based on their track record of fiscal/fiduciary irresponsibility or why any Gizmondo owner can't see the writing on the wall defies all logic and reasoning.

Keep drinking that Gizmondo/Tiger Telematics Kool-Aid.

[Fire Hazard @ Jan 24th 2006 8:53PM]

well i told you so! YES! i won a bet! sorry tiger dudes but come on everyone had to of know that this ugly thing wasn't going to take off.

[Steve chapman @ Jan 25th 2006 6:35PM]

Check the hilarity...I bought one of these and the laughter through the pain has just begun:
http://panocamera.com/2006/Blog%20Jan%2025,%202006%2014-13.html

[Jay @ Feb 3rd 2006 3:47PM]

Yes not surprised,I managed one of there stores in the USA and we have not ben paid since Dec.15(although I left awhile ago).Most of there kiosks are closing and nobody expects to see any money.

[Rooster @ Feb 25th 2006 7:54AM]

Tiger Telematics has been ripping off small businesses for years, they still owe us �35 from four years ago for unpaid marketing work. The OFT have known about their practices since forever. Any idiot that works for Tiger either is a tiger (a ruthless predator)or ... an idiot.

Good bye tiger telematics, until next time.

[Rooster @ Feb 25th 2006 8:01AM]

�35K, not �35, sorry!

[Adriana @ Aug 10th 2006 12:01PM]

so this means that the money i pay for the gizmondo is on the garbage??so we can not uses the system anymore....