Items tagged with Bankruptcy

In the words of another group that was super popular in the 2000’s, Mad Catz is “going down, down in an earlier round”. After a rough year, the producer of unique gaming accessories and peripherals has filed for bankruptcy. According to Mad Catz representatives, “The Board of Directors made the decision to have the... Read more...
Quirky, the ambitious invention platform startup that aims to help turn people's ideas into real products, and its affiliates have filed for Chapter 11 bankruptcy protection, the company announced in a blog post today. It's now looking to sell off substantially all of its assets, including its Wink smart home... Read more...
Give RadioShack credit, the iconic electronics chain lasted nearly a century and survived part of the Internet era before ultimately filing for bankruptcy. However, the chain's impressive 94-year run doesn't give it a free pass to treat customer data like an asset, or so that's the stance the Federal Trade Commission... Read more...
The RadioShack bankruptcy took a harder turn into ugly territory yesterday with Apple's filing of a complaint in a Delaware court. The move is intended to keep the once-prevalent hardware giant from selling their customer data, joining the states of Texas and Tennessee in their efforts to prevent the company from... Read more...
After a run that lasted nearly a century, Radio Shack fell on hard times and is on the verge of extinction, at least as you know it. What's left of the 94-year-old chain went up for auction on Monday; with hedge fund Standard General emerging as the highest bidder. It also happens to be one of Radio Shack's creditors... Read more...
One of the rumored features that didn't make it onto the iPhone 6 is the sapphire display. Touted for its durability and scratch-resistance, sapphire glass is used on the camera lens and Touch ID sensor, but not the main display where it's arguably needed most. It's not there in part because things turned sour between... Read more...
Last week, we reported on the problems dogging Crytek, with UK staff allegedly going unpaid and increasing concerns over the company's ability to continue as a going concern. Those concerns have only amplified in the past week -- it's now reprorted that the majority of Crytek UK staff have turned in formal letters of... Read more...
Crytek -- developers of the CryEngine and the hit Crysis series -- is, by all accounts, in significant trouble. Reports of problems are mounting at multiple publications as employees speak out about missed paychecks, layoffs, and multiple staff departing in the wake of non-payment. Eurogamer is reporting that Crytek... Read more...
Right on schedule, OCZ Technology is receiving an injection straight to the heart via Toshiba. After falling into bankruptcy last year and nearly instantly being rescued by Toshiba, the latter has announced today that it has "finalized the purchase of substantially all assets of OCZ Technology Group, making it a... Read more...
LightSquared has had an interesting (and relatively rough) go as a company. The telecommunications firm launched with a lot of promise, just as North America was starting to embrace mobile broadband and LTE. But it soon realized that building out a network was a costly project, and fell into bankruptcy as bids from Sprint to take it over passed... Read more...
Editor's Update - 11/27 - 7:45PM We just had a call with some key team members at OCZ. Our contacts inform us that OCZ plans to continue operations in a "business as usual" mode. In fact representatives from OCZ noted specifically that the company will continue to manufacture product for existing customers, support... Read more...
So long, THQ, and thanks for the pie. The North American game developer and publisher responsible for Saints Row, the Red Faction Series, Company of Heroes, and other titles auctioned off its assets to competitors for around $72 million. "We were hoping that the entire company would remain intact, but we expect to... Read more...
Hot on the heels (in the worst possible way) of THQ filing for bankruptcy last month comes Atari's US-based headquarters doing the same. It's the company's goal to break free from its France-based overlord Atari, SA and then get bought out to reform as a private company and subsequently continue business under a... Read more...
Hard times have fallen on video game maker THQ, which reportedly filed for Chapter 1 bankruptcy this week. Affiliates of private equity firm Clearlake Capital Group L.P. will acquire THQ's assets for around $60 million, taking control of the company's four studios and any games currently in development. The sale will allow THQ to shed certain... Read more...
The number of brick-and-mortar electronics shops available to do-it-yourself (DIY) system builders and consumer electronics (CE) junkies has fallen dramatically in the past several years. First it was Good Guys that fell by the wayside in 2005, then CompUSA that sunk itself into financial trouble a year later before being bought out by Systemax,... Read more...
Well, we can't all act surprised at the same time. For years now, Blockbuster has been dwindling in importance. The store was once the face of movie renting, and now it's the face of what used-to-be. Ever since Netflix stormed onto the scene with a more convenient method of renting DVDs, Blockbuster has been... Read more...
Think of it as the computer company that just...won't...die. After being lambasted by Apple from day one, dealing with more threats and lawsuits in a year that most of us will hear of in a lifetime and eventually filing for bankruptcy, the infamous Mac clone maker known only as Psystar is back. Shortly before most of America hits the pause... Read more...
You remember Psystar, don't you? How could you not, right? The company famous (or should we say infamous?) for forging ahead with production on Mac clones even as lawsuits from Apple piled up has finally caved, but not to Apple. No, it has caved to the pressures of financing a business.According to a new report up at The Mac Observer, the... Read more...
Ugobe, the maker of Pleo, the robotic dinosaur (pictured), has filed for Chapter 7 bankruptcy. Yes, Chapter 7, not Chapter 11, so unless someone decides to buy the company's assets, Pleo is doomed to extinction. Ugobe's CEO, Caleb Chung, also created the Furby, which when launched in 1998 became the "must have" toy of the holiday season. According... Read more...
It appears that Circuit City’s liquidation sales have been successful. So successful, in fact, that the stores are running out of inventory sooner than expected. As a result, liquidators have announced that all of the chain’s remaining stores will close this Sunday. The shutdowns come about a week ahead of schedule, and two weeks earlier than... Read more...
Oh, how the mighty have fallen. Just months after sat radio powerhouses Sirius and XM merged, the singular entity is teetering on collapse. The company (and formerly, companies) have always been pretty strapped for cash, but it appears that its leverage has almost expired. According to a recent report from the Associated Press, it's expected... Read more...
America’s third largest electronics retailer with 721 stores in the U.S. and 770 in Canada, has petitioned for Chapter 11 protection in U.S. Bankruptcy Court in Richmond. After losing money in five of the last six quarters and announcing last week it would close 155 stores, Circuit City is seeking bankruptcy protection amidst fears that it... Read more...