We learnt in the last couple of weeks that Tiger Telematics subsidiary had filed for bankruptcy protection in the UK, and it transpires today that the courts have now placed Gizmondo Europe into liquidation, according to site Gamasutra.com. This effectively ends the firm's attempts to establish a presence for their ambitious handheld console on the continent. Liquidators David Rubin and Associates and Bigbee and Traynor are now expected to lay-off any remaining workers, and cease running all European services of Gizmondo Europe.

Whilst the liquidation proceeds, parent company Tiger Telematics may still attempt to acquire certain areas of the European business, using the five-million USD bridging loan with which the company had hoped to continue operating. About 72 million USD in outstanding 'liabilities' will be wiped off the company's books following the liquidation of Sweden and Manchester based games studios, whilst Gizmondo attempt to continue trading stateside. Liabilities in the may however put-pay to the firm's studio in Texas, as well as the handheld kiosks.

The only hope for the continuing existence of the Gizmondo handheld then appears to be the emergence of a purchaser, with significant sums of cash, willing to bankroll the marketing and support of the system, which foundered amid fierce from the and PSP. More as we get it.

By Luke Guttridge