Commodore declared Bankrupt by Dutch courts

Reports have emerged that Commodore International is close to being shut down following a court judgement declared the company bankrupt.

However, the company is refusing to lie down and die, protesting that it was not involved, nor informed of the proceedings and that it will appeal against the ruling.

The announcement comes after at least three creditors went to the Dutch courts to seek a bankruptcy ruling again against the firm for an undisclosed sum.

Official receiver JJ Dingemans told the Register that if the firm can pay off its debts, then the ruling would be lifted.

However, with the company widely expected to announce losses approaching €10 million after poor sales of its Gravel line of personal media players and gaming products (excluding PCs which are sold by a separate firm), it’s unlike it will be able to do so.