Reuters: Bankruptcy News: Finland's GeoSentric says to liquidate

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Finland's GeoSentric says to liquidate Apr 3rd 2012, 07:38 HELSINKI, April 3 | Tue Apr 3, 2012 3:38am EDT HELSINKI, April 3 (Reuters) - Finnish location-based services firm GeoSentric said on Tuesday it would seek immediate disposal of all its assets after it failed to raise sufficient financing to continue operations. The firm, which has struggled to shift from its old Benefon cell phones business to location-based social networking, said it would hold a shareholder meeting to decide on the company's liquidation, while exploring all means of gathering cash. GeoSentric employed around 60 people in 2011. (Reporting By Eero Vassinen, Editing by Tarmo Virki and Mark Potter)

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