Gizmondo Europe, owned by Tiger Telematics, filed for bankruptcy protection with the Securities and Exchange Commission. Last week Tiger tried to give Gizmondo Europe a $5 million short term loan but that did not seem to be enough to turn the tide. In light of the filing Gizmondo Europe laid off half of its workforce to reduce expenses. The Gizmondo handheld failed miserably, despite its huge marketing rollout, in both Europe and North America.

Gizmondo Europe is delighted to announce its biggest E3 presence ever with a roster of fantastic new games to be unveiled, hands-on demos of the amazing multi-entertainment device, a string of A-list performances, and the first showing of some incredible new game hardware technology not available on any other gaming console.