Earlier today we received and responded to a tip from the site Das Games that stated that Majesco Entertainment Co. had filed for bankruptcy. There is no hard evidence that the rumor is true.
We'd like to point readers to the company's latest SEC filings here. There are official, legally mandated requirements for communicating momentous changes to a public company's financial health so that all investors have equal information. When a public company files for bankruptcy, one can be certain the news will be widely communicated to the entire investing community, and not to some random blog.
Furthermore, a reader claiming to be Ken Gold, VP of Marketing for Majesco Games states that "Majesco is not bankrupt…." Just to be careful, we have contacted Majesco via email to verify the source of the comment and are waiting for a response.
To read the original post, click below.
[The original post]
Sad news for the gaming world, Majesco Ė purveyors of some of the more creative games (at least here in the states) has rumored to have filed for Chapter 11 Bankruptcy. For those who donít know, Majesco is the publisher of such games as Psychonauts, Guilty Gear X, Razeís Hell, Bloodrayne, and a few recent Bomberman / Bust-a-Move sequels. While nothing has been announced on their web site, Das Games is reporting that Majesco Games will make only one more shipment, of Nanostray for the DS, and that will be it for the publisher.
While this is not confirmed, what is certain is that Majesco has seen some troubled times as of recently. Following the weaker sales of Advent Rising and Psychonauts, Majesco had dropped $50 million off of its projected annual revenue. After the announcment, Majescoís stock plummeted 47%, CEO Carl Yankowski resigned, and now the company (and Yankowski) are being sued by their shareholders (via gameindustry.biz). Tough times.
So itís still just a rumor, and letís hope so. And if not, letís hope other publishers pick up the games
Majesco was soon to publish (Black & White for the DS, especially). What are your fondest memories of
[Thanks, Daylon Schindler]