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Gizmondo goes into liquidation...

I read an article that one journalist went into the main shop on Regent's Street and they were all sold out. :lol He rmade fun of them that the whole shop was cheap and tacky to the fact that they were sold out despite selling hardly any consoles.
 
They'll all be down the dole office shortly, according to Tiger, and operations such as the Gizmondo customer support service will be wound up quick smart. The liquidators are also expected to sell off all assets, though it's not clear exactly what these might consist of or whether they've set up an eBay account yet.

:lol

Nice. Is anyone surprised?
 
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I'm not 100% sure the smart ads even got turned on!

It was kinda obvious that this was coming when GameStation UK stopped stocking them. The store that still sells every Retro machine you can imagine got rid of the Gizmondo just before Xmas - maybe they sent them back to the Regent Street store...
 
It takes a hell of a lot for gaming related news to make the 2nd leading article in a major national newspaper but it happened. From UK's The Independent:

http://news.independent.co.uk/uk/this_britain/article347138.ece

key highlights:

Eleven months later Gizmondo was in liquidation, its reputation shredded by its association with a group of convicted criminals known as the "Swedish Mafia". More than £180m of investors' money had been spent in an orgy of corporate excess, bloated salaries and perks.

There were fast cars, a private jet, a racehorse, and lawsuits. At the height of the spending, Gizmondo bought a modelling agency, ran a fleet of 120 Smart cars and retained an 80ft super yacht.

One veteran industry source and former insider had this answer: "This was the worst case of corporate mismanagement and rape of a company and its investors that I have ever come across."

One insider believes only 30,000 gadgets were ever manufactured - at a cost to investors of £6,000 each. Meanwhile, Gizmondo the racehorse is for sale. It is described as of "modest ability" and its trainer says he is open to offers - starting at £600.

Unfortunately the article was published too early to include the Ferrari Enzo story.
 
Wait... The Swedish mafia, race horses, models, a private jet? They should've let this info leak before they went under. Add a Thai prostitution ring and i would've bought ten!
 
Ex-Gizmondo Exec Crashes $1 Million Ferrari In LA

According to news reports, former Gizmondo executive Stefan Eriksson has been involved in a high-profile accident in Los Angeles which destroyed his $1 million Ferrari Enzo sports car, following a crash at more than 120 miles per hour during an alleged street race.

Eriksson, who resigned from Gizmondo last October following controversy over Gizmondo's financial performance and significant financial perks to company directors, is claiming that he was merely a passenger in the vehicle.

The 2003 Ferrari Enzo was racing a Mercedes-Benz SLR when it crashed into a light pole on the Pacific Coast Highway, shearing the car in two. A 'German man called Dietrich', the supposed driver, according to Eriksson, allegedly fled the scene. A significant police search failed to find 'Dietrich', and no arrests have yet been made.

The Los Angeles Times reported Sheriff's Sgt. Philip Brooks as noting that Eriksson "...had a .09 blood-alcohol level, but if he's a passenger, that's OK. But he had a bloody lip, and only the air bag on the driver's side had blood on it. The passenger-side air bag did not. My Scooby-Doo detectives are looking closely into that." The Times notes that Sergeant Brooks then added: "Maybe the 'driver' had a friend who picked him up. Maybe he thumbed a ride. Maybe he was a ghost."

Gamasutra has previously reported in detail on the notable perks enjoyed by Eriksson related to his Gizmondo position, including at least a base salary of $1,500,000 and lavish car allowances. The firm's Gizmondo Europe subsidiary has recently lapsed into liquidation, following the unsuccessful launch of its handheld.

The incident has caused a major stir on automobile-related websites, with car-related weblog Jalopnik posting a reader gallery of the crash aftermath which make the massive extent of the crash clear.
 
MassiveAttack said:
Ex-Gizmondo Exec Crashes $1 Million Ferrari In LA


The Los Angeles Times reported Sheriff's Sgt. Philip Brooks as noting that Eriksson "...had a .09 blood-alcohol level, but if he's a passenger, that's OK. But he had a bloody lip, and only the air bag on the driver's side had blood on it. The passenger-side air bag did not. My Scooby-Doo detectives are looking closely into that." The Times notes that Sergeant Brooks then added: "Maybe the 'driver' had a friend who picked him up. Maybe he thumbed a ride. Maybe he was a ghost."

Oh, God. :lol Eriksson for the lose!
 
ToxicAdam said:
I seriously want one now. What the hell is wrong with me?
I was/am hoping some dirt-cheap systems would/will become available, then I WOULD/WILL really want one.

GPS and Sticky Balls for total victory.
 
callous said:
It was kinda obvious when it was first announced.
Yeah if anything the stupid name just gave it away.

GIZMONDO, probably will go down in video game history as the worst possible name for a handheld/console ever.
 
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