insolvency, administration

Death, Inc. Developer Closes Doors, Promises Full Refund for Paid Alpha

April 25, 2013 -

Monster Meltdown and Death Inc. developer Ambient Studios announced on its company website that it will be shutting down as a result of serious financial issues.

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THQ Details Remaining Assets to Be Sold by Mid-May

February 26, 2013 -

THQ announced that it will auction off the remaining assets it didn't manage to sell as part of its bankruptcy. The company hopes to sell the remainder of its intellectual properties by mid-May. Initial bids must be submitted by April 1, with final bids required by April 15. Last month, the bankruptcy court approved the sales of three of THQ's studios and games in development, as well as Evolve, a working title under development at Turtle Rock Studios, Homefront 2, Metro: Last Light and South Park: The Stick of Truth.

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HMV Closing an Additional 37 Stores, Laying Off 464 Employees

February 20, 2013 -

UK retailer HMV will close an additional 37 retail stores and cut 464 more jobs, according to a CVG report. The latest round of store closures add to the 66 stores that were recently closed throughout the UK, and the loss of 930 jobs. The closures were announced by Deloitte, the company overseeing HMV's administration.

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HMV Signs New Supply Agreements with Key Suppliers

February 15, 2013 -

UK retailer HMV has managed to secure key new music, video games, and movie releases, after reaching an agreement with key suppliers this week. Earlier in the week it was announced that HMV closed 66 retail stores, which employed an estimated 930 workers.

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HMV Ireland Stores Closed, 300 Jobs Lost

February 12, 2013 -

More bad news for employees of HMV - particularly those 300 employees that worked for the UK-based retailer in Ireland. The Ireland-based division of the company has been shut down and some 300 employees are to be affected by the closures, according to a report in the Irish Examiner. All 16 of HMV’s stores have been closed according to the report, and the company has admitted that it was unable to find a buyer and that the stores would remain closed.

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Sixty-Six HMV UK Retail Stores to Close, 930 Employees Affected

February 7, 2013 -

Deloitte, the administrator handling HMV's UK-based business, has identified 66 HMV stores that will be closed in the next two months, according to a Eurogamer report. These retail store closures will affect 930 employees, the firm announced.

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THQ Filing Informs SEC it Has Sacked its Top Executives

February 5, 2013 -

While it won't come as any shock, THQ has filed a FORM 8-K with the United States Securities and Exchange Commission ("Item 5.02 - Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers") that it sacked its top executives on January 30, 2013. Given that the company was sold off to various bidders in bits and pieces in an auction in late January, it makes sense that they would inevitably have to let their executives go into the wild. The online filing reads as follows:

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HMV UK Cuts Massive Amount of Work Force

January 31, 2013 -

UK Retailer HMV has cut 190 jobs across the board, according to administrator Deloitte. Earlier reports had pegged the layoffs at 60, but the group overseeing the retailer's administration later confirmed the larger number. Most notably HMV’s head of technology and games Ewan Pinder was given a pink slip today. The 60 workers who lost jobs were apparently from HMV's head office in the UK.

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Half of HMV's UK Locations Could be Closed by Hilco

January 28, 2013 -

While UK retailer HMV will survive to fight another day after HMV Canada owner Hilco took it over, it looks like the chain is about to be streamlined so that it operates more efficiently. MCV (by way of The Daily Mail) is reporting that Hilco may close around half of HMV’s 223 UK stores.

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Former THQ Executive Danny Bilson Comments on THQ's End

January 24, 2013 -

Former THQ executive vice president of core games Danny Bilson laments the dismantling and sale of THQ and its various properties and studios. Bilson worked for more than four years at the publisher before being replaced by former Naughty Dog co-founder Jason Rubin When asked by Polygon for his reaction to all the news surrounding the auctioning off of THQ's assets, Bilson offered the following:

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A Breakdown of How Much THQ Sold Individual Assets For

January 24, 2013 -

Last night we detailed what assets THQ sold off as part of its auction to generate enough cash to pay down some of its debt, and today we know just how much. The information comes from THQ's filing with the U.S. Bankruptcy Court in Delaware. The court has approved the sale of the assets, but the Chapter 11 bankruptcy case will continue as the former top-three publisher figures out what to do with its remaining assets.

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THQ Sends Letter to Employees Revealing Auction Results

January 23, 2013 -

Update: THQ has sold the WWE game license to Take-Two, according to IGN.

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E. Zachary KnightGot that same recommendation on Twitter. So I guess that is a good sign.09/15/2014 - 8:39pm
prh99Portlandia, though I don't watch a lot of sitcoms. Heard it was good though.09/15/2014 - 8:02pm
E. Zachary KnightSitcom recommendations for someone who like Parks and Rec but hates The Office: Go.09/15/2014 - 6:08pm
NeenekoEven if they do change their policy, they can only do it moving forward and I could see the mod/pack community simply branching.09/15/2014 - 12:50pm
Michael ChandraAs for take the money and run, the guy must have a networth of 8~9 digits already.09/15/2014 - 10:33am
Michael ChandraMe, I'm more betting on some form of mod API where servers must run donations/payments through them and they take a cut.09/15/2014 - 10:32am
Michael ChandraEspecially since they want it for promoting their phones. Killing user interest is the dumbest move to make.09/15/2014 - 10:32am
Michael ChandraGiven how the EULA actively allows for LPs, I'm not sure Microsoft is ready for the backlash of disallowing that.09/15/2014 - 10:31am
Matthew Wilsonthey wont do that, the backlash would be too big.09/15/2014 - 10:25am
ConsterSleaker: how is that a flipside? Sounds to me like that's basically what Notch himself said, except rudely.09/15/2014 - 10:18am
MaskedPixelanteOn the plus side, no more lazy Minecraft LPs, since iirc Microsoft has a strict "no monetization period" policy when it comes to their stuff.09/15/2014 - 10:13am
james_fudgeBut it continues to sell on every platform it is on, so there's that09/15/2014 - 10:09am
james_fudgeOh, well that's another matter :)09/15/2014 - 10:08am
E. Zachary KnightNothing against Notch here. I think it is great that he made something so cool. I just can't understand how it is worth $2.5 bil09/15/2014 - 9:59am
InfophileWhat a world we live in: Becoming a billionaire was the easy way out for Notch.09/15/2014 - 9:42am
james_fudgelots of hate for Notch here. I don't get it. Sorry he made a game everyone loved. What a monster he is!09/15/2014 - 9:37am
SleakerOn the flipside, Notch has been a horrible CEO for Mojang, and the company has grown on sheer inertia, DESPITE being mishandled over and over.09/15/2014 - 9:33am
SleakerI can understand Notch's statements he made to Kotaku about growing bigger than he intended, and getting hate for EULA changes he didn't enact.09/15/2014 - 9:32am
MaskedPixelantehttp://pastebin.com/n1qTeikM Notch's statement about the MS acquisition. He wanted out for a long time and this was the easiest way.09/15/2014 - 9:08am
ConsterEh, I can't blame him.09/15/2014 - 9:01am
 

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