Entertainment Shopping Inc. the company that runs penny auction sites Swoopoo and Oohilove has filed for bankruptcy. I am not sure if the bidders were given a refund for their money invested. Swoopoo is inaccessible and Oohilove site says it is closing its doors.
Swoopoo was one of the first penny auction sites to open and it is sad that they are closing down. I hope Quibids doesn't have similar problems. I will also update here if I get any information on what happened to the money invested by the bidders.