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Playlogic files for Dutch equivalent of bankruptcy

Sections: Features, Game-Companies, Gaming News, Law-Politics, Publishers

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Playlogic logoCiting the current economic conditions and late payments from its financial partners, publisher Playlogic has asked for a voluntary delay of payments under Dutch law.

Netherlands-headquartered Playlogic, which published games including Fairytale Fights and Obscure: The Aftermath, is also taking distribution partner Koch Media to court for $1.7 million in unpaid bills.

The company reported a $20 million loss during the 2009 financial year. Playlogic hasn’t announced an intent to shut the company down, but this is obviously a huge roadblock.

I have to bring up the elephant in the room though. Playlogic is also in trouble because the majority of games it released didn’t sell very well. When you’re a game company and you can’t sell games, bankruptcy is often an unfortunate side effect.

Read [Games Industry] Also Read [Destructoid] Site [" target="external" title="Playlogic">Playlogic @ Gamertell]

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