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Rich Person Phone Brand Goes Kerplunk. Vertu, the company that sells $5.
UK manufacturing operations. But everyone saw it coming. The liquidation will result in the loss of some 2.
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The. Telegraph. Employees had already expressed fear of losing their jobs, since the company was reportedly skipping out on paying its bills and employee wages. Recent troubles at Vertu began with the takeover of Turkish exile and businessman Hakan Uzan, who promised to rescue the company from bankruptcy. Yet, he managed to add on more debt by not paying the company’s previous owner and suppliers such as Microsoft and Qualcomm. Uzan accrued a debt of . A person familiar with Uzan’s plans told The Financial Times that he intends to resurrect the company sometime in the near future. We’ve reached out to Vertu for comment, and we’ll update if we hear back.