Liquidation
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HAL 9000 replica's crowdfunding project goes bust
A crowdfunding project for a voice-activated HAL 9000 replica has gone bust after the company filed for Chapter 7 bankruptcy.
Blocks ends its modular smartwatch project after running out of money
Blocks' years-long quest to build a modular smartwatch has come to an unfortunate end. The company has revealed (including through a private Kickstarter post) that it's liquidating assets after running out of cash. The company had been looking for investors back in April 2018, but apparently didn't have much success. Backers are receiving "proof of debt" forms, although we wouldn't count on getting money back.
Bankrupt Toys ‘R’ Us is closing all US and UK stores
It's a sad day for anyone who has fond memories of sliding up and down toy-laden aisles, buzzing off the synthetic smell of brand new Barbies and Action Men. Toys 'R' Us is about to close forever. Six months after filing for bankruptcy in the US and one month after doing the same in the UK, the company is shutting the doors of all 900 stores across both countries, unable to compete with online competitors.
Mt. Gox faces liquidation as recovery plans scrapped
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 current rates, but the company recently went back online and still held out hope for a sale of the business. Now the most likely outcome is liquidation, as the court declared any rehabilitation unrealistic. It added that it would probably now investigate CEO Mark Karpeles too -- who yesterday told a US judge he was unwilling to travel to the states and answer questions. The next step is to appoint a trustee and divvy up whatever's left amongst creditors (and lawyers).
Complete, unreleased Rise of Nations game found among 38 Studios' goods
When 38 Studios' intellectual properties are auctioned off by the state of Rhode Island on December 11, one more game will be included in the mix, Rise of Nations: Tactics. The Mac game was completed, albeit unreleased and seemingly unheard of until now. The auction was first slated to begin this week and includes the Kingdoms of Amalur IP, 38 Studios' in-development MMO Project Copernicus and Big Huge Games' properties Catan, Rise of Nations and Rise of Legends. "Additionally, through the examination of the data contained on the 38 Studios servers, we have discovered a completed, but unreleased game for Mac users titled 'Rise of Nations: Tactics,'" Nick Jimenez, executive vice president of the auction host Heritage Global Partners said in a press release. "We only became aware of this game this past week through our own due diligence efforts." The intellectual property auction follows 38 Studios' closure in May 2012, and according to the court-appointed lawyer for the now-defunct studio Richard Land, potential bidders' interest in the auction has been "greater than expected."
38 Studios lawyer to request delay for IP auction
Richard Land, the court-appointed lawyer for 38 Studios, said he plans to ask a Rhode Island Superior Court judge to delay the now-defunct studio's intellectual property auction. The auction was originally slated to take place on November 14 and include the Project Copernicus MMO that was in development at 38 Studios prior to its May 2012 closure as well as sequel and merchandise rights and revenue for Kingdoms of Amalur: Reckoning. Land told The Providence Journal that interest in the auction has been "greater than expected" from prospective bidders, leading to the request to delay the auction for "a couple weeks." The auction was also slated to include Big Huge Games properties Rise of Nations, Rise of Legends and XBLA game Catan.
Kingdoms of Amalur IP auction starts November 14, includes Rise of Nations
The 38 Studios and Big Huge Games liquidation auction will begin November 14, according to the Heritage Global Partners auction services page. Among the assets included in the auction from the state of Rhode Island are the Kingdoms of Amalur intellectual property, namely the Project Copernicus MMO that was in development at 38 Studios prior to its closure in May 2012. Additionally, buyers will be able to obtain sequel and merchandise rights and revenue for the developer's lone release, Kingdoms of Amalur: Reckoning. Other assets in the auction include intellectual property rights for Big Huge Games' properties, particularly Rise of Nations, Rise of Legends and Catan in addition to the studio's Big Huge Games Engine and 38 Studios' Helios platform. The liquidation auction begins at 9:00am ET on November 14 and ends November 15 at 12:00pm ET.
EV outfit Better Place calls it quits, set to undergo liquidation
Better Place's plan for electric cars with swappable batteries is coming to an end. Despite a change in leadership and a streamlining effort over the past six months, the Israeli EV maker has filed a court motion for liquidation, citing insufficient cash to continue operations and a failure to raise the necessary funds. According to Israel Corporation, the firm's controlling shareholder, other investors willing to pitch in the vast amount of money needed couldn't be found. With approximately $812 million lost in operations and deploying battery exchange stations since 2007, and $454 million of that within 2012 alone, it's estimated that just recouping those loses would take $500 million and four years. "Unfortunately, after a year's commercial operation, it was clear to us that despite many satisfied customers, the wider public take up would not be sufficient and that the support from the car producers was not forthcoming," said Better Place CEO Dan Cohen. Sure, it might be curtains for the company, but the existing battery network looks like it might live on, as the liquidator is being asked to "maintain the functioning of the network." [Thanks, Michael]
Chumby halts hardware sales, long-term support looking mighty unlikely
"The site is closed temporarily." Never a good sign, indeed, and particularly not when it's plastered across Chumby's own webstore. For over two days now, that's the message given to anyone attempting to buy hardware from the company, and it looks as if the Chumby we knew may be counting down its final days. A scrappy upstart attempting to bring its Chumby OS to the masses via injections into larger OEMs, the outfit saw little to no uptake across a wide variety of products; Sony nixed the Dash earlier this year, and Insignia turned its back quite some time ago. To be fair, Chumby had stopped manufacturing its own branded hardware in 2011, with the outfit's Duane Maxwell confirming the outright death of Chumby's store in a forum posting today. According to him, there was "no point in keeping the store around once inventory was exhausted," though hardcore loyalists can still snag a NeTV from adafruit. Other forum members have noted that all support emails now seem to be headed into the Great Beyond, and while the actual network that Chumby OS relies on remains alive at the moment, there's no guarantee it'll last. Interestingly, at least two individuals instrumental in the building of Chumby are now working at Media Navi -- both Alison Fay and Michael Coleman have moved Chumby-related job listings to "Past" in their LinkedIn profiles. We'll be reporting more as we get it, but in the meanwhile, we'd recommend giving your favorite Chum a warm hug. His / her heart may not be beating for too much longer. [Thanks, Jonathan]
HP: Limited supply of TouchPads on the way
Still waiting for your bargain TouchPad to ship? Good news, as HP's just confirmed that a "limited supply" of the webOS slates are on their way, and they'll land in "a few weeks." In an update to a blog post from yesterday, the company confirmed that it will manufacture an additional "limited quantity" of TouchPads in Q4 -- presumably to meet existing backorders. Those of you who've signed up for email notification will receive an update and one-time offer today (peep it after the break), and a followup when more details are known. For live updates peep the two Twitter accounts linked under more coverage, and to get the full rundown of HP's plans, hit the source link below. [Thanks, OneLove]
Confirmed: Best Buy US begins selling TouchPads after all, good luck finding one
Those reports we heard about Best Buys in the US selling off remaining inventory of the HP TouchPad? Turns out they're true, and the "fire sale" is taking place nationwide online and in stores. The FAQ page in the retailer's forums has been updated to announce that it's reversed the decision to ship everything back to HP, and we've also received leaked screenshots confirming the news as well. Best Buy's online store currently shows the TouchPad as sold out and unavailable in stores, and company reps are hesitant to give official word on exactly how much inventory is left at this point. If the online status doesn't change between now and sunrise, we have a strong feeling you should expect a Black Friday-style line waiting for you at the brick-and-mortars. [Thanks to everyone who sent this in]
HP TouchPad fire sale spurs online sell out, brick-and-mortars may still carry stock (updated)
It's the same old story of genius recognized only after death, and thus is the fate of webOS. If you were amongst the opportunistic hordes scavenging the interwebs for last night's bargain bin $99 HP TouchPad announcement, chances are you're fresh outta luck. The L.A. Times is reporting widespread online store sell outs for the recently abandoned and heavily discounted 16GB and 32GB slates. While HP's own site and the biggie online retail outfits, like Circuit City and Walmart, have all but sold out of their web inventory, Amazon's third party sellers still have the tablets on offer -- just at non-discounted prices. Of course, you could always leave the hypnotic glow of your monitor and venture out into the real world where actual, physical stores are purported to have the tabs currently in stock. Try your luck, and let us know how things go in the comments below. Update: We've been hearing reports that select Best Buy outlets have begun selling their remaining inventory as of this afternoon. Also, it appears RadioShack plans to get in on the discounted fun, as leaked internal memos indicate an impending price cut. If you haven't had any luck snagging one of HP's also-ran tabs, now's your chance.
Best Buy stops selling the TouchPad, HP offers refunds to owners
Tempted by the promise of a $99 TouchPad, in spite of its imminent demise? Well, it looks like American Best Buys won't be enjoying the same liquidation sale as our neighbors to the north. A couple of tipsters have reported that the big box electronics retailer has pulled the webOS tablets from its shelves and is shipping them back to HP. The slates have also disappeared from Best Buy's website, though you can buy $30 screen protectors for one. You can still try to score one on the cheap straight from HP, but both the 16GB and 32GB models are currently listed as out of stock. Don't get upset if you already plunked down $400 for 10-inches of webOS goodness -- HP will refund you the difference. Call up the company or the retail partner you purchased it from, and ask. Just be prepared to sit on hold with all the rest of the folks trying to get their cash back. [Thanks, Alex and David]
Let the liquidation begin -- HP's 16GB TouchPad on sale for $99
Well, that didn't take long. It's only been a day since HP announced its intention to discontinue production of webOS devices, and it looks like the outfit's already throwing its flagship tablet in the bargain bin. PreCentral reports that HP sent out a memo to its affiliates asking them to cut the price of the ill-fated TouchPad to $99 and $149 for the 16GB and 32GB editions, respectively. The date apparently put forward by HP is August 20th, but at least two Canadian retailers (Best Buy and Future Shop) have already made the cut -- though both outlets show the sale ending August 22nd. As proof that being fashionably late isn't always a good thing, the white 64GB edition has surfaced on HP's US site, sporting a $600 asking price, leaving us to wonder, well: why now? If all of that isn't enough to turn your smile upside down, webOSroundup is playing the bearer of bad rumors, with what they say is an internal memo from AT&T stating that the carrier's launch of the Pre 3 has been "completely cancelled." Update: Looks like the SlickDeals forums folks have discovered a way to bring those Canadian prices down south, and are reporting that they will be official in the US on Saturday morning. Hit up the link below for details.
EV maker Think Global files for bankruptcy after poor US sales
Not so long ago, we were ready to believe that this plastic EV might stand a fighting chance thanks to its local charm and initial $28,000 price tag. But then the price soared, sales failed to pick up, and now it appears the Norwegian maker of the Think City couldn't cling on any longer. Think Global has filed for bankruptcy and will be liquidated in an attempt to pay off its creditors, including US battery producer and investor Ener1, which is making a $33 million charge on the company's assets. It's sad to see any such enterprise fail, but Think Global might one day be seen as a victim of the success of the EV industry, which is beginning to see better competition and lower prices.
Google to buy Modu patents, hopefully leave Nokia alone
It took complete failure to do it, but it looks like Modu founder Dov Moran finally found that new source of capital he went hunting for last November. In an effort to pay back creditors and unpaid wages, the firm's patent portfolio is slated to be snatched up by Google for roughly $4.8 million. What's Mountain View going to do with a mess of ultra-lite modular phone patents? It didn't come up, but we wouldn't be too surprised if it had something to do with its Danger-powered hardware wing and Android Open Accessory. Putting Modu to rest hasn't phased 'ol Dov, though; Israeli news source Calcalist reports that he's already invested three million smackers in a mysterious new start up -- about which Moran remains tight lipped. Goodnight, Modu; we'll always remember you as the audacious underdog who had the brass to tell Nokia to say their prayers.
Modu closing up shop in February
Looks like the bad news just got worse for Modu fans. According to reports from Israel, Modu, maker of impossibly small modular handsets, will be forced to close its doors in February as it attempts to payback debt and the salaries owed to its workers. Ironically, the news will likely spark an increase in demand as nerds battle to curate an elusive Modu W for their vintage gadget collections.
Midway liquidation plan approved by court
The last shreds of the former developer known as Midway will soon be dissolved into the ether, as a Delaware court has agreed to the terms of the company's plan to repay a portion of its debts. Businessweek reports that after liquidating all its assets, Midway will distribute about $25.5 million to unsecured noteholders, which is about 16.5 percent of what those noteholders are owed. Unsecured creditors will get $9.2 million, which is around one-quarter of what Midway owes them. So, now that all of its assets either belong to Warner Bros. or are being hocked to repay lenders, we think we've probably seen the last of the once great Midway empire. Unless one of you guys feels like giving them like, $600 million. C'mon, there's gotta be at least one obscenely rich, completely obsessed Mortal Kombat fan out there. [Via Kotaku]
GameCrazy store liquidation starts today, everything 20% off
Moving right according to schedule, GameCrazy today officially began liquidating outlets across the US, with remaining inventory in stores reduced in price by 20 percent. An internal memo we received details the liquidation proceedings, confirmed by multiple calls to remaining GameCrazy outlets across the East Coast. "Beginning May 21, your store will introduce a special sales strategy featuring 20% OFF sale on all software and hardware items," reads this particular store's notification. Apparently "The Great American Group" -- an auction, liquidation, and appraisal contractor -- will be handling oversight of the liquidation, advertising as much on its website (as well as being mentioned repeatedly in the notice we received). It also appears that the group has yet to finalize an incentive plan for remaining employees, though the document assures that they'll hear something "next week." A list of remaining Movie Gallery, Inc. outlets, including many GameCrazys, can be found here (warning: PDF link).
Caption Contest: Best Buy FTW
A Twitterer documents the demise of one big box via the burn of another. Tim: "And thus the 2009 FatWallet suicide craze began."Josh F: "First!"Joe: "Yeah, but what about the Palm store?"Laura: "So, you're telling me I have to pay full price for this copy of Final Destination IV? FINE."Richard: "...And we finally have proof you never actually shopped there anyway."Paul: "We've also stopped matching Buy More prices ever since that silly 3D episode."Jacob: "...And we're therefore rebranding to Kinda the Best Buy.'"Ross: "For $100, the Geek Squad has offered to read these aloud to you. For an extra $50, they'll stop themselves from giggling through the word 'unfortunate.'"Nilay: "Also, it's okay to start liking 'Just What I Needed' again."Sean: "We will, however, attempt to make the Circuit City faithful feel right at home with some new bait and switch tactics of our own."Don: "Circuit City employees will be hired based on their technical knowledge, communication skills, and rapping ability."[Thanks, Adam]
