Fusion Garage, The Guys Behind The CrunchPad, Are Officially Done And Owe Creditors $40 Million

The CrunchPad experiment — a $200 tablet for viewing the web — is officially dead.

An industry source just forwarded us the first page of a legal document showing Fusion Garage is done. According to our source, the company owes creditors around $40 million altogether.

TechCrunch founder Michael Arrington first mentioned the CrunchPad effort in July 2008 and said he was aiming for a $200 price tag. Arrington and the CrunchPad team parted ways in late 2009. He sued Fusion Garage shortly afterward.

We’ve attached the first page of the documentation below:

fusion garage crunchpad