Dutch game maker Playlogic bankrupt after failed fairytale

Wednesday 04 August 2010

Dutch game maker Playlogic has been declared bankrupt, eight years after its launch, the NRC reports on Wednesday.

Playlogic, with operations in Rotterdam and Breda, is the biggest Dutch company to make games for the Xbox 360 and Sony Playstation, the paper says. The company applied for court protection from creditors last week.

The bankruptcy follows a disappointing reception for the long-awaited Fairytale Fights game which has not sold as well as expected. Delayed contracts and increasing debts added to the pressure on the company, the paper said.

The company's parent, Playlogic Entertainment, was listed on the US Nasdaq exchange. According to an SEC filing last week, the company lost $20m last year and a further $2.2 m in the first quarter of 2010.

'2009 was a difficult year for the entire game industry,' founder Rogier Smit told the paper. 'Hardly any game makers made a profit, even the big internationals.'

© DutchNews.nl

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