The lights are on
According to a new report, the Section 8 studio, which also worked on the ill-fated Aliens: Colonial Marines, has filed for bankruptcy.
The website Polygon has published a story based on Texas bankruptcy court documents that it obtained.
According to Polygon, "The petition filed by TimeGate lists less than 50 creditors owed money by the game developer and total liabilities ranging from $10 million to $50 million. TimeGate's top creditors include companies like Unreal Engine developer Epic Games, online game service Agora Games and transmedia developer DJ2 Entertainment. Creditors listed in court documents also include a local pizzeria, to whom TimeGate owes $34.80, and video game agency Birthplace Management Group, which is owed $20,539.20."
The story also goes on to reveal that TimeGate owes substantial debts to SouthPeak Interactive, in which it had been involved with a lawsuit involving the localization of Section 8.
Recently, TimeGate had done work on Sega's critically panned Aliens: Colonial Marines along with Gearbox Software and was forced to conduct extensive layoffs in March.
We send out our condolences to TimeGate and the people who have lost their jobs. However, this bankruptcy filing will at least preclude the company for being named in the class action lawsuit that has resulted from Aliens: Colonial Marines.
[Source: Polygon]
Interesting. I wonder if they know anything about (or had anything to do with) the "intentional false advertising" claimed in the class action suit. If the majority of development was handled by Timegate (and after the release of the trailers and demos that generated so much hype), then perhaps they are responsible for the changes. That would still leave Gearbox at fault for handing off development though. Hmm...
Huh, another site said they were filing for Bankruptcy Protection, not Bankruptcy, so which is it?
My half-brother's cousin worked for TimeGate, hopefully he can find another job.
never good to see this happen ,but i can't help but be amused about the unpid pizza bill... i mean seriously if you can't afford the pizza don't order it , if your that strapped for cash ramen is 3 for $1
"Creditors listed in court documents also include a local pizzeria, to whom TimeGate owes $34.80"
What they failed to mention was that the money owed wasn't for pizza, but for weed. Yes, the pizzeria has a hydroponic garden in the back.
Wow, another studio going under. My condolences to everyone who is effected :/
The first time I noticed was " Creditors listed in court documents also include a local pizzeria, to whom TimeGate owes $34.80."
Thats sad.
Yeap, sounds about right after the POS game was released. But still sucks for the people who are going to be losing their jobs.
Section 8 D: nooooo
Hope they can find jobs
Awww I liked Section 8: Prejudice!
A whole lotta bankruptcy this year. . . A shame to see any more, but usually it's pretty inevitable based on some of these companies' games.
That really sucks for them, but seriously... No one could shell out 35 bucks to that poor pizza joint?