Tuesday morning, Quirky filed a petition for Chapter 11 bankruptcy protection. According to a company blog update, the step was taken to “facilitate a sale of substantially all of its assets.” It’s even selling Wink, the smart-home goods subsidiary of Quirky, which was–and is–being kept alive as the rest of the company has been slowly dismantled over recent months. The documents illuminate that the expected price-tag will be $15 million or more, for Wink alone. (One bidder has already offered that, but it must be put up to an auction.)
On September 22, 2015 (the “Petition Date”), Quirky, Inc., Wink, Inc. and Undercurrent Acquisition, LLC (the “Debtors”) filed voluntary petitions in the United States Bankruptcy Court for the Southern District of New York seeking relief under the provisions of Chapter 11 of the United States Bankruptcy Code. The Debtors continue to operate their businesses and manage their properties as debtors-in-possession. This website was created to assist the Debtors in providing access to information for creditors, as well as to solicit and receive comments from such creditors.
Looks like Quirky owes the former CEO, Ben Kaufman $296,311.56 as a severance package. They also owe “Flex sales” $18m, UnderCurrent $14m and UPS $1.3m (PDF).
We are angry, frustrated, and in pain because of the violence and murder of Black people by the police because of racism. We are in the fight AGAINST RACISM. George Floyd was murdered, his life stolen. The Adafruit teams have specific actions we’ve done, are doing, and will do together as a company and culture. We are asking the Adafruit community to get involved and share what you are doing. The Adafruit teams will not settle for a hash tag, a Tweet, or an icon change. We will work on real change, and that requires real action and real work together. That is what we will do each day, each month, each year – we will hold ourselves accountable and publish our collective efforts, partnerships, activism, donations, openly and publicly. Our blog and social media platforms will be utilized in actionable ways. Join us and the anti-racist efforts working to end police brutality, reform the criminal justice system, and dismantle the many other forms of systemic racism at work in this country, read more @ adafruit.com/blacklivesmatter
Stop breadboarding and soldering – start making immediately! Adafruit’s Circuit Playground is jam-packed with LEDs, sensors, buttons, alligator clip pads and more. Build projects with Circuit Playground in a few minutes with the drag-and-drop MakeCode programming site, learn computer science using the CS Discoveries class on code.org, jump into CircuitPython to learn Python and hardware together, TinyGO, or even use the Arduino IDE. Circuit Playground Express is the newest and best Circuit Playground board, with support for CircuitPython, MakeCode, and Arduino. It has a powerful processor, 10 NeoPixels, mini speaker, InfraRed receive and transmit, two buttons, a switch, 14 alligator clip pads, and lots of sensors: capacitive touch, IR proximity, temperature, light, motion and sound. A whole wide world of electronics and coding is waiting for you, and it fits in the palm of your hand.