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Poynt files for Bankruptcy In Hopes of Continuing

Poynt logo

This is some sad news I really did not see coming. The hugely popular cross platform local search company Poynt has filed for bankruptcy in Calgary, Canada. According to the press release put out by Poynt they have filed a Notice of Intention under the Bankruptcy and Insolvency act which lets they stay creditors for 30 days as a judge decides if it should be extended. Poynt said that:

The Company (Poynt) is not currently in a position to meet the obligations owing to its secured and unsecured creditors and as such, has taken this action under the BIA as the most expeditious and economical manner of addressing the interests of its creditors and allowing it to carry on its operations.

Poynt Corp. expects to file a formal proposal under the BIA, setting forth a comprehensive plan for payment to Poynt Corp.’s creditors in due course. The trustee named in the notice of intention is Hardie & Kelly Inc., of Calgary, Alberta.

I really hope they find a way to carry on operations or at the very least sell to another company to carry the torch. I with them the best of luck and hope they pull through. via Marketwire via MobileSyrup

7 total comments on this postSubmit your comment!
  1. I don’t know anyone who actually used the app. How do they get funding.

  2. I think is one of the best apps free and paid for the BlackBerry. RIMM should buy POYNT and integrate it into their OS.

  3. This is unfortunate news and I hope Poynt will be able to resolve their issues. I find Poynt to be one of the best applications ever developed for the BlackBerry, and I will be disappointed if the app ends up fading into the sunset.

  4. This is a company that RIM should purchase with their 2.1 billion dollars in cash. It would be money well spent to keep an app like this functioning.

  5. This is one app I always use, gas, movies and sometimes restaurants and weather. It’s more like a one stop shop.

  6. Are you nuts? purchase them? look at all the companies RIM had purchased and what came out of it?

    The app is useless. I could easily just google the same thing.

    They are a contact with Yellowpage that is prob their biggest gig but they do not make money.

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