Wednesday, May 13, 2009

Fatkat closes doors

Gene Fowler posted to his LinkedIn profile tonight: closing down Fatkat and wramping up Loogaroo. Oh the life of an Entrepreneur!
Over on Facebook, his work info now lists him as Executive Producer at Loogaraoo, which he describes as:
a new start up company picking up where Fatkat left off. But with more deliciousness.
I tracked down Gene on MSN tonight and confirmed that yes, Fatkat is indeed no more.
The company had a very successful run over the past few years, but hit on hard times in 2009. With Fatkat done, Gene will be launching Loogaroo. The official word on the new startup will be forthcoming, but it appears that the company will be comprised of some of Fatkat's key players, but in a far more stripped down working model.
I'll post more information as it becomes available. For now, it's so long Fatkat. You had a good run, produced some excellent animation, and we had some laughs.
Good luck to all the Kats.


Anonymous said...

Interesting. I guess that's one way of escaping creditors and starting over with NB funding.

michael valiquette said...

I'm going to caution Anonymous regarding this comment. His/her use of "escaping" is somewhat telling and indicates a tone that has been common elswhere in duscussions of Fatkat. While the comment is harmless, I will caution any and all potential commentors, that snark will not be tolerated here.
Yes, when a business has no other recourse, they close their doors. Anyone who has ever had to deal with debt and creditors know that it is not a simple "escape" and that even bankruptcy is not a ge tout of jail free card. Debtors are always required to make good on their debt, based on their means. Fatkat closing is a tough decision that was made in recognition of a changing landcape and the need to put to bed a stale business model. That's just business. And yes, I would imagine that the Loogaroo crew will apply, like any othe r business in NB for provincial help to get things running.
It's a very common practice.
This blog is supported by a provincial entrepreneurship program.
I'm going to try to avoid over-reacting to a simple turn of a phrase. Sadly, there are some places online where I have read outright bashing, so I might be a little sensitive to it. While open discussion is encouraged, I will be monitoring for snark.

Gene Fowler said...

Thanks Mike, yer one of the good ones dude.


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