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."
- BioWare's David Gaider moves from Dragon Age to a new secret BioWare project
- Cross-Buy coming to Windows 10 and Xbox One staring with Zen Pinball FX2
- Bungie knew about Destiny's loot cave before launch
- This year's BAFTA Games Awards to stream live on Twitch, watch it here
- Harmonix confirms Rock Band 4 coming to next-gen consoles this year
- Wasteland 2 also coming to the PS4
- Block 'N' Load gets a final launch date
- Elite: Dangerous is a timed exclusive on the Xbox One, PS4 version is coming too
- Phil Harrison rumoured to be leaving Microsoft