Tiger Telematics files for bankruptcy in UK

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January 23rd, 2006, 18:59 Posted By: wraggster

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, 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?

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