Playlogic Files Chapter 11 Bankruptcy

July 28, 2010 -

Dutch-based publisher Playlogic has filed for bankruptcy, according to documents from the US Securities and Exchange Commission. Yesterday the company told the press, who had caught wind of its financial straits, that it was not going bankrupt. But late yesterday the board of directors confirmed it had voluntarily entered into "surseance van betaling," – apparently the Dutch equivalent to Chapter 11, for both Playlogic International and its development studio Playlogic Game Factory.

The company blamed a combination of "Tough market conditions, late payments by large customers and delays in projects" as the cause for the filings. One of the big companies that Playlogic alluded to was distribution partner Koch Media, which Playlogic is suing for unpaid bills totaling €1.7 million. Add to that a first quarter loss of $2.2 million, and a $20 million loss for the full 2009 financial year, and it is easy to see why Playlogic is struggling to stay alive.

Source: GI.biz

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NeenekoPlus, it is unusual for a company as large as Intel to take such actions and it indicates there is probably an internal syampthy or cultural overlap with the gaters that bumped their visibility.10/02/2014 - 12:50pm
NeenekoI do not think anyone is suggesting that either intel or gaters should not be able to, but the chain of events is chilling to some.10/02/2014 - 12:48pm
MaskedPixelantehttp://www.wesh.com/news/man-shot-5-times-by-police-to-face-judge-on-firstdegree-murder-charge/28368490 And cops wonder why no one likes them.10/02/2014 - 12:42pm
SleakerIt's up to the companies to determine if they think running their ads on a controversial site may cause more damage to them, the only way they might get this is by feedback.10/02/2014 - 12:37pm
Sleakeropinion to a company on where they run ads.10/02/2014 - 12:36pm
Sleaker@Papa Midnight - Requesting ads get pulled from a site due to not agreeing with their message is not censorship. Funding and voicing your opinion are two completely separate topics. It's completely reasonable for people to voice their10/02/2014 - 12:35pm
Papa MidnightSame here, prh99.10/02/2014 - 12:31pm
prh99I played the first Half Life, haven't bothered with any of two. I like Portal more than Half Life anyway.10/02/2014 - 12:31pm
NeenekoI only got a short way into HL-1, but enjoyed HL-2. Probably because I do not like PC FPS games and HL-2 I got on console.10/02/2014 - 12:28pm
Andrew EisenI have a confession to make: I didn't really care for Half-Life.10/02/2014 - 12:27pm
Papa MidnightI don't think I've used the forums since the Wordpress days.10/02/2014 - 12:13pm
NeenekoI keep forgetting we even have forums.10/02/2014 - 11:48am
ZippyDSMleeA shame we can't have good convos in the forums, seems to me its time to nuke and restart fresh on them.10/02/2014 - 11:45am
Papa MidnightOh, no problem! Just wanted to let you know that it's what we're discussing. By all means, join in!10/02/2014 - 11:36am
E. Zachary KnightNeeneko, No problem. In juicy conversations, key points of discussion get pushed off quickly.10/02/2014 - 11:36am
NeenekoA rather scary censorship. I have known too many people and small companies destroyed by such pressure, so this unnerves me at a pretty personal level.10/02/2014 - 11:36am
NeenekoMy bad, I always have trouble working out what is going on in shoutbox10/02/2014 - 11:34am
Papa MidnightTo a point stated earlier, it very much is a form of indirect censorship. Rather than engage in rhetoric and debate, one side has instead chosen to cut-off opposing viewpoints at the knees and silence them via destroying their means of income.10/02/2014 - 11:28am
Papa MidnightNeeneko: the topic of Intel's dropping of Gamasutra is indeed part of this very ongoing conversation.10/02/2014 - 11:26am
NeenekoThis can't be good... http://games.slashdot.org/story/14/10/02/1558213/intel-drops-gamasutra-sponsorship-over-controversial-editorials10/02/2014 - 11:25am
 

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