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Fairytale Fights Developer in Financial Trouble
by Alice O'Connor, Jul 28, 2010 6:30am PDTDutch publisher and Fairytale Fights developer Playlogic is facing financial difficulty and has requested "the Dutch equivalent of Chapter 11," Edge noticed.
Surseance van betaling will allow the company to delay payments while continuing to operate. The company reported a net loss of $20.3 million in 2009, following on from a loss of $9.5 million in 2008. "We have experienced losses this year and in prior years and may not be able to become profitable on a consistent basis," it said in the filing.
As of June 2010, Playlogic was engaged in legal cases against its European distributor Koch Media and US publisher Evolved, claiming that both owe the company money. Koch had apparently not paid Playlogic since December 2009 while Evolved had yet to pay up at all after licensing "a number" of games back in 2006.
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