Fusion Garage goes into liquidation owing millions
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Fusion Garage wasn’t exactly looking healthy back in December, but the company has finally gone into liquidation: reportedly leaving creditors owed a whopping $40m. Company founder Chandresekar Rathakrishnan apparently signed the liquidation documents on January 5, just ahead of CES kicking off.
Although Fusion Garage was never short on ambition, good products and healthy sales always seemed somewhat beyond the company’s reach. Initially begun as part of the CrunchPad project, a joint venture with Michael Arrington, Fusion Garage split off amid some acrimony – spawning a lawsuit or two in the process – and decided to go its own way with the “JooJoo“ slate. »read more
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