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Posts tagged bankruptcy

Report: Crytek UK in trouble, staff leaving

More than 30 employees have left Crytek UK since work began on Homefront: The Revolution in 2011, Eurogamer reports. The high turnover is due to staff being paid late numerous times, and the list of those who've left includes key art, design and programming employees, the site says. Crytek UK...

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UK retailer GAME forced to pay £3M in back rent fees

British video games retailer GAME has lost a legal case filed by its landlords, and has been ordered to pay £3 million in rent fees accrued during its administration (bankruptcy equivalent) period in 2012, Retail Week reports. GAME's landlords banded together last year in an attempt to...

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Atari earns court approval to emerge from bankruptcy

Atari's Chapter 11 (reorganization) bankruptcy, announced in January and followed by auctions of its assets, is coming to its phoenix conclusion. The Wall Street Journal reports Atari has received court approval for its plan to rise from bankruptcy. The plan involves paying back the $3.8...

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The end draws near for Blockbuster UK, 62 more stores closed

Blockbuster UK is likely to follow in the footsteps of the recently defunct US arm, after administrators announced 62 further store closures, with 427 employees laid off as a result. The DVD and game rental chain entered administration (a.k.a. bankruptcy) again earlier this year, and insolvency...

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Rune Factory, Lufia developer Neverland Co. to file for bankruptcy

Rune Factory and Lufia series developer Neverland Co. has ceased operations and will file for bankruptcy soon, the studio revealed on its website. Siliconera reports that Neverland's statement cites recent "changes in the business environment" as one of the studio's difficulties. Attempts to...

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Blockbuster UK cuts 72 stores as search for buyer continues

Blockbuster UK faces 452 layoffs and 72 store closures, after company administrators announced "necessary" measures for the once-again bankrupt retail chain. Moorfield Corporate Recovery, the company tasked with finding another buyer for the struggling outlet, said it wasn't an easy decision to...

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38 Studios IP auction moved to December

A planned intellectual property auction for shuttered Kingdoms of Amalur: Reckoning developer 38 Studios has been pushed back a month and is now set to commence in December, GameSpot reports. A specific date for the auction is not yet known. 38 Studios' court-appointed lawyer Richard Land...

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Blockbuster UK bankrupt again, can't honor next-gen pre-orders

Blockbuster UK is entering administration again, this time under investment company Gordon Brothers Europe. This means Xbox One and PS4 pre-orders through Blockbuster UK will not be fulfilled, the company says in a tweet. Blockbuster UK advises those who pre-ordered a next-gen system in-store to...

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Atlus parent company selling operations, publishing plans are 'unaffected'

Atlus parent company Index is preparing to sell off its subsidiary operations after recently filing for Japan's equivalent of bankruptcy protection, Bloomberg reports. Atlus USA's day-to-day operations are, for the moment, unaffected by Index's financial woes, so those of you looking forward to...

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THQ receives approval to liquidate

Never forget that Death was THQ's final protagonist. Late yesterday, the US bankruptcy court in Delaware approved the liquidation of Toy Head Quarters (THQ). Unless you're a creditor seeking some kind of back-pay or compensation, this is likely the last you'll hear about THQ. As Bloomberg...

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