insolvency, administration

Report: TimeGate Lays Off Entire Staff

May 9, 2013 -

According to this Kotaku report citing two unnamed sources with knowledge of the situation, TimeGate Studios has laid off its entire staff. The developer behind Section 8 and the co-developer of Aliens: Colonial Marines sent everyone home early today according to the sources.

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TimeGate Studios Files for Bankruptcy Protection

May 2, 2013 -

Aliens: Colonial Marines co-developer and Section 8 developer TimeGate Studios has filed for Chapter 11 bankruptcy protection in Texas Southern Bankruptcy Court, according to court documents obtained by Polygon.

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THQ Creditors Line Up With $200 Million in Claims

April 26, 2013 -

THQ's long list of creditors are seeking an estimated $200 million from the bankrupt publisher, according to a filing with the Bancrupcty Court of Delaware.

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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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Wonderkarpgot my Reading Rainbow kickstarter rewards....I cant tell if this is a sticker or a bumper sticker.01/30/2015 - 5:38pm
Goth_SkunkAs such, the first playthrough is always going to be the most evocative.01/30/2015 - 3:47pm
Goth_SkunkSo while branching storyline is hallmarked as a feature of the game, the storyline never stays branched for too long. There is a linear story that may branch at points, but each branch always comes right back to the main line further down the road.01/30/2015 - 3:46pm
Goth_SkunkMy biggest gripe about it though would have to be that its replay value sucks. I quickly learned that apart from a few key decisions you make, most choices end up not being relevant because something terrible happens anyway.01/30/2015 - 3:45pm
Goth_SkunkI *love* The Walking Dead. Like I said, I played Season 1 through in one go, and subsequently pre-purchased Season 2 in its entirety sight-unseen.01/30/2015 - 3:43pm
Andrew EisenBy the by, I take it you're a fan of Telltale's Walking Dead? I'm one of the very few who really doesn't like it. Bums me out.01/30/2015 - 3:39pm
Andrew EisenI think we're safe with stuff like Life is Strange, Resident Evil: Revelations 2, and TellTale's games. I was thinking more along the lines of D4. It's genuinely up in the air whether we'll get a conclusion to that story or not.01/30/2015 - 3:33pm
Goth_SkunkUltimately, from this potentially ignorant perspective, it's the gamer who assumes the risk, not the developer. I don't approve. Fortunately, I'm only paying $5 (CDN, no less), so that's money I can easily write off if I'm disappointed.01/30/2015 - 3:32pm
Goth_SkunkIf I'm wrong, and the unthinkable should happen where the developer ends up aborting production of the rest of the episodes, bundle purchasers would be understandably upset. Even moreso if attempting to get a refund turns out to be a hassle.01/30/2015 - 3:30pm
Goth_SkunkThere is an option on XBL to purchase all episodes in a bundle. Pay full price now, get the rest of the episodes as they're released. I would like to think this means that the other episodes are in fact done and ready.01/30/2015 - 3:29pm
Andrew EisenCatch 22 sometimes. Some gamers don't want to buy it if there's no guarantee the whole thing will come out and the whole thing can't come out unless enough people buy the early installments.01/30/2015 - 3:17pm
Goth_SkunkI sincerely hope this trend towards episodic games is not done so because the developer only had enough capital to produce the first 1/5th of the story and is banking on making enough money from the sales of that fifth to produce the rest.01/30/2015 - 3:16pm
Goth_SkunkThat being said, I want to try Life is Strange to get my feet wet.01/30/2015 - 3:13pm
Andrew EisenI'm that way too. I'll wait until the whole thing is out. Same goes for DVDs of TV shows. I'll wait for the season set.01/30/2015 - 3:13pm
Goth_SkunkIf an episodic game is really good, and the time between episodes is more than a week, I'm more inclined to wait for the rest of the episodes to all come out than to try playing it episode by episode at launch date.01/30/2015 - 3:12pm
Goth_SkunkAs someone who played through TWD Season 1 entirely in one day, and then played Season 2 episode by episode when they each came out, I strongly agree with this sentiment.01/30/2015 - 3:11pm
Goth_SkunkFrom what I've been hearing, people haven't been buying it because they're sick of episodic games where they have to wait 6 weeks or more between episodes and they'd rather just wait for the whole thing to come out at once.01/30/2015 - 3:10pm
Andrew EisenNot sure what GamerGate could do to dissuade people from buying a game they'd otherwise be interested in or why it would even want to but I agree, I think the premise is interesting and look forward to learning more about how it actually plays.01/30/2015 - 2:58pm
Goth_SkunkAnd for what it's worth, I saw Life is Strange advertised today on XBL, and the premise looks very, very intriguing. I'm going to buy it today and give it a shot.01/30/2015 - 2:42pm
Goth_SkunkI'm hearing rumours that the recently released game Life is Strange is not selling very well on Steam, and that GamerGate is being blamed as a result. It's just a rumour though.01/30/2015 - 2:42pm
 

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