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Playlogic Files For Bankruptcy
Fairytale Fights publisher Playlogic has had its share of financial hardships this year, but the floundering may shift to full-fledged sinking, reports Gamasutra. Boasting offices both in New York and Amsterdam, the publisher has filed for bankruptcy overseas. Filing a “surseance van betaling,” the move is on par with Chapter 11 here in the States. The filing truncates both the publishing and internal development arms of Playlogic.
In a press release associated with the filing, Playlogic details their plight, stating that “tough market conditions, late payments by large customers, and the delays in projects have forced the company to seek protection under the Dutch bankruptcy laws.”
The “late payments” jab is aimed at partner Koch Media, which Playlogic alleges owes them a significant amount of money and is currently taking legal action to claim.
Other Playlogic titles include Obscure: The Aftermath, Infernal, Age of Pirates, Sudoku Ball Detective, Worldshift, and Ancient Wars: Sparta.
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