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

Posted in

 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
Andrew EisenHow many people do you think will return their copy for a censored version of the game? My money is on zero.01/27/2015 - 12:47am
Goth_Skunk@Cheater: If I were an Australian consumer, there's no way I'd be returning it.01/26/2015 - 10:43pm
Cheater87Ooops http://stevivor.com/2015/01/ps4-copies-saints-row-iv-re-elected-undergoing-product-recall-australia/01/26/2015 - 10:13pm
Andrew EisenOkay, well I've passed the request along.01/26/2015 - 9:03pm
ZippyDSMleeI loath itunes..........01/26/2015 - 9:02pm
Goth_SkunkUNLESS you haven't downloaded the most 3 recent episodes. Then it cancels your subscription automatically.01/26/2015 - 8:56pm
Goth_Skunk@AE: No. iTunes instead just downloads it automatically, provided you've set it up to do so in your preferences.01/26/2015 - 8:56pm
Andrew EisenAnyone know if iTunes sends email notifications when there's a new episode of a podcast you're subscribed to?01/26/2015 - 8:30pm
ZippyDSMleeAck!! Sorry lack of spell checker means I more incoherent than ever :P, Sign up for email notification thing for the pod cast. Probly more trouble than its worth, I guess I will have to check the site more often ><01/26/2015 - 8:22pm
Andrew EisenWhat is a "sign u email thing"? We provide a direct download link to the show every week. The video version is on my YouTube channel. You can use our RSS feed to add it to a news reader. You can also subscribe to the show on iTunes.01/26/2015 - 6:48pm
ZippyDSMleeMmm you guys ever thought about doing a sign u email thing for the pod cast? If I can click a direct link to downlaod it to toss in all daily podcast listening I might listen to it more than randomly forgtting its on here 0-o01/26/2015 - 6:37pm
prh99Too much time listening to Faux News and Bill Mahr.01/26/2015 - 5:12pm
james_fudgeit's bad pr for the bus company01/26/2015 - 5:10pm
Andrew EisenI'm sure the ones who purchased the ads are a bit peeved but I find my sympathies lacking. I have to wonder why the bus line would buy such ads in the first place. Hard to imagine it doesn't have policies against that stuff.01/26/2015 - 5:07pm
Wonderkarpthats cute. I Like Ms Marvel(hate her powerset). Whomever is doing this? Good Job01/26/2015 - 4:49pm
E. Zachary KnightHahahahahahaha! http://toybox.io9.com/islamaphobic-bus-ads-in-san-francisco-are-being-defaced-1681857271/+charliejane01/26/2015 - 4:24pm
WonderkarpI saw that. Celebrity wing.01/26/2015 - 3:00pm
BearDogg-XArnold Schwarzenegger is being inducted into WWE Hall of Fame, reports TMZ.01/26/2015 - 11:56am
Wonderkarpyou're weird01/25/2015 - 11:23pm
ConsterWell, I guess it makes sense for your iPad to be capitalist scum.01/25/2015 - 7:10pm
 

Be Heard - Contact Your Politician