Playlogic files for bankruptcy
Dutch publisher Playlogic has hit hard times, forced to file for bankruptcy in light of financial troubles including cash flow problems and loan defaults.
In the US equivalent of Chapter 11 bankruptcy, Playlogic has filed for surseance van betaling in the Netherlands as Gamasutra reports.
The Fairytale Fights published has been on a precipitous financial decline the last few months. Exacerbating the company's inability to pay its bills is pending litigation against Austrian company Koch Media for 1.7 million Euros. that Playlogic insists it's owed.
One filing proscribed a bleak outlook. "There is substantial doubt about our ability to continue as a going concern."
- Here's a bunch of new screenshots of Project CARS running on the Xbox One
- Free Power Of Defiance DLC arrives for Shadow Of Mordor
- Teaser trailer arrives for Telltale's Game Of Thrones
- Tales From The Borderlands to debut this month
- Archwing update arrives for the console versions of Warframe
- Free update and Black Sea Colonies DLC arrives for Total War: Rome II
- Geometry Wars 3: Dimensions coming next week
- World Of Warcraft subs jump back over the 10 million mark with the release of Warlords Of Draenor
- F1 2014 gets a new trailer to celebrate the F1 season finale at the Yas Marina Circuit in Abu Dhabi