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Aereo was expecting to sell its assets for at least $4 million (and up to $31 million) at a bankruptcy auction, following its loss in a protracted legal battle against broadcasters. Sadly, luck wasn't on its side yet again: the company has managed to raise a mere $2 million from the auction, which...

27 days ago 0 Comments
February 27, 2015 at 11:37AM
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As expected, RadioShack filed for Chapter 11 bankruptcy today. The electronics store has had 11 unprofitable quarters in a row that apparently even Weird Al and a drone, concept stores and Arduinos couldn't turn around. We've seen many electronics retailers fade out over the last few years, but mo...

1 month ago 0 Comments
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When a company files for Chapter 11 bankruptcy, it means that it's mere moments away from being torn to pieces by its creditors. That particular regulation also provides room for a turnaround, but given that the Supreme Court has essentially made its business model illegal, it's not looking good f...

4 months ago 0 Comments
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For a company that's obsessed with secrecy, it's no surprise to see that Apple imposes tight restrictions on what its suppliers can say. If your company leaks a product, or starts boasting about producing components for a future iOS device, then you'll be asked to pay a fine of no less than $50 mi...

5 months ago 0 Comments
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Veteran Japanese developer Westone Bit Entertainment is facing bankruptcy after nearly 30 years of operation, Game Watch Impress reports (via Sega Nerds). After debuting in 1986 with its landmark arcade side-scroller Wonder Boy (later adapted for the 8-bit Nintendo Entertainment System as Hudson...

5 months ago 0 Comments
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First, one of the world's largest Bitcoin exchanges went dark, then it filed for bankruptcy, suffered further hacking attacks and even faced a lawsuit. Now Mark Karpelès, Mt. Gox's CEO, tells the Wall Street Journal that he's liquidating what's left of the company assets to make ends meet. ...

9 months ago 0 Comments
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More than 30 employees have left Crytek UK since work began on Homefront: The Revolution in 2011, Eurogamer reports. The high turnover is due to staff being paid late numerous times, and the list of those who've left includes key art, design and programming employees, the site says. Crytek UK Manag...

9 months ago 0 Comments
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The Mt. Gox Bitcoin exchange may still be reeling from the botnet discovery that ruined its business, but it just got a big reprieve. A US court has approved Mt. Gox's Chapter 15 bankruptcy protection, preventing creditors who sued the company from seizing any American assets (including servers) o...

9 months ago 0 Comments
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A Japanese court-appointed administrator is now in control of Mt. Gox following an unsuccessful attempt to save the business. The Bitcoin exchange filed for bankruptcy in February after losing 850,000 Bitcoins, though it later found around a quarter of them. That's still a $340 million loss at cur...

11 months ago 0 Comments
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British video games retailer GAME has lost a legal case filed by its landlords, and has been ordered to pay £3 million in rent fees accrued during its administration (bankruptcy equivalent) period in 2012, Retail Week reports. GAME's landlords banded together last year in an attempt to rec...

1 year ago 0 Comments
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Atari's Chapter 11 (reorganization) bankruptcy, announced in January and followed by auctions of its assets, is coming to its phoenix conclusion. The Wall Street Journal reports Atari has received court approval for its plan to rise from bankruptcy. The plan involves paying back the $3.8 millio...

1 year ago 0 Comments
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Blockbuster UK is likely to follow in the footsteps of the recently defunct US arm, after administrators announced 62 further store closures, with 427 employees laid off as a result. The DVD and game rental chain entered administration (a.k.a. bankruptcy) again earlier this year, and insolvency spe...

1 year ago 0 Comments
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Rune Factory and Lufia series developer Neverland Co. has ceased operations and will file for bankruptcy soon, the studio revealed on its website. Siliconera reports that Neverland's statement cites recent "changes in the business environment" as one of the studio's difficulties. Attempts to secur...

1 year ago 0 Comments
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OCZ dropped off the radar shortly into 2013 as it struggled to correct dodgy accounting and stem ongoing losses. Unfortunately, it couldn't turn things around quickly enough -- the one-time legend in memory technology has declared bankruptcy. That isn't necessarily the end of the story, though. To...

1 year ago 0 Comments