Gizmondo Europe To Be Liquidated

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February 7th, 2006, 17:26 Posted By: wraggster

The English High Court has ordered Gizmondo Europe to be liquidated, according to The Register. Looks like parent company Tiger Telematics' funding plans haven't gone according as they'd hoped, and it may have to sell off its Gizmondo USA operation." From the article: "Tiger said it was considering its own future in the light of the High Court verdict, and of the liquidation of its game studios in Sweden and Manchester, England. For starters, it's now able to eliminate $72m of the $90m liabilities recorded on its balance sheet as of 30 September 2005. It said it was pondering the sale of the whole company, parts of it, or elements of the intellectual property it owns, 'including patents and game rights, and continuing operations in the USA'.

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