While I don't have the filings in front of me, that sounds like it is a Susurance type of bankruptcy. This is similar to a Chapter 11 bankruptcy in the US, and it give the company an opportunity to negotiate with creditors in order to settle debts without having to liquidate the company.
Endless Ideas has been importing ebook readers since 2008, starting first with a rebranded Hanlin V6, a 6" E-ink ereader from a Chinese manufacturer. Last year Endless Ideas expanded into tablets, launching the Bebook Live 7" Android tablet. I'm told that they also had plans to release more models, but that is probably not possible now.
I'm not sure that they'll make it out of bankruptcy alive. The ebook reader market is a lot tighter than it was when the first Bebook launched. The US market is mostly out of Endless Ideas reach due the the intense price competition between B&N and Amazon. And now the European market is getting to be highly competitive as Amazon, Kobo, and Pocketbook get serious about fighting over market share.
There's not much room for the little guy anymore.