Ugobe goes under

Pleo manufacturer Ugobe has gone into liquidation.
Author:
Publish date:
5_Pocoyo.jpg

The US company, whose Pleo range was distributed in the UK by Vivid Imaginations, has filed for liquidation of its assets and has laid off all of its staff. A creditors meeting is being held on May 21st.

The firm was the brainchild of Caleb Chung, best known as the creator of Furby.

In the bankruptcy filing, Ugobe said it had assets of $1.6 million, including $1.5 million in machinery to make Pleo in Hong Kong, and liabilities of $3.6 million.

Ugobe said it also owes Chung $353,500 in unpaid royalties.

.

Related

Featured Jobs

Copyrights Group

Marketing Manager

The Copyrights Group is one of the licensing arms within The Vivendi Group. Acquired by Vivendi in 2016 Copyrights manages the licensing for a portfolio of properties to include Paddington Bear. Some of the other companies within the Vivendi Group include Universal Music Group, and their licensing arm Bravado, Gameloft and Studiocanal to name a few.