Ugobe, Inc. files for Chapter 7 bankruptcy

Posted 22 Apr 2009 at 05:23 UTC by roschler Share This

Ugobe Inc., the manufacturer of the amazing Pleo dinosaur robot that elicited emotional reactions from all that met him, has filed for Chapter 7 bankruptcy. The company is being liquidated and all of their employees have already been let go. The bankruptcy meeting is set for May when the fate of Ugobe's assets will be decided. Over 100,000 Pleos were sold worldwide and despite taking in over 20 million dollars, the company was still left with over 3 million dollars of debt and unable to raise further funding. With iRobot shelving their ConnectR telepresence robot, Tomy/Takara pulling the i-SOBOT from American markets, and WowWee's delaying of the Spyball spycam robot announced at CES this year, 2009 appears to be destined for the history books as a truly tough year for consumer robots.

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