Fatkat Animation gear set for liquidation
Last Updated: Wednesday, August 26, 2009 | 4:48 PM AT
CBC News
Computers, keyboards and even a foosball table are being auctioned off in the bankruptcy of Fatkat Animations, a former darling of New Brunswick's technology sector that once counted the U.S. TV show Family Guy among its clients.
At the height of its success, the Miramichi-based studio was the biggest in Atlantic Canada with more than 100 employees and had received more than $1 million in government grants since 2005.
Animators, using the computers, desks and servers that are now being auctioned off, produced cartoons for such television series as Family Guy and Happy Tree Friends.
Despite some of its early success and the string of government funds, Fatkat Animation couldn't stay afloat. By April, seven years after it opened its doors, it had no contracts and was down to operating with only three people.
The studio declared bankruptcy and closed in May. The auction on Thursday will help pay off debts.
A Business New Brunswick spokesperson said it's too soon to say if the province will recoup on its investments because the firm is still in the early stages of liquidation.
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