We did a search on German “Federal and State Justice Portal” InsolvenzBekanntmachungen.de and found that Swoopo’s Shopping Entertainment AG is indeed listed in public notices as filing for insolvency on 3/23/11. However, this does not mean that Swoopo’s US corporation, Entertainment Shopping, INC. has or will file. We’re not sure yet.
Swoopo started out in 2005 as Telebid in Germany and has since opened in a number of countries including the US. Just a few days ago the Entertainment Auction Association, due to non-communication and because they mysteriously went down, removed Swoopo from their list of approved members just days after approving them prior to the site being down.
We’ve told you before, it’s not easy to run a penny auction site. We’re not sure what this means yet for bidders.
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