One of the developers on the front line of titles for Playstation’s Move motion control setup has voluntarily filed for Chapter 11. Or, more appropriately, the Dutch studio filed for the local equivalent, “surseance van betaling”. The company was in over $21 million in debt at the end of the previous fiscal year, and its […]
After finally gaining legal grounds for bankruptcy, Midway Entertainment has been finalizing all its old debt with its many creditors and holders. The biggest settlement of note is former majority stakeholder Sumner Redstone, Chairman of Viacom. An suit was originally filed against the media mogul for supposed “harm to the company” his stock sale did, […]
Midway Games has been in the process of bankruptcy for a while now, since their declaration in February of last year, to be precise. But progress has been made, as the company has just recently won court approval for asset liquidation last Friday by U.S. Bankruptcy Judge Kevin Gross. The company has already sold the […]
Retail chain Game Crazy looks to be filing for Chapter 11, and shutting its doors permanently for it. The last significant national competitor to GameStop, a confirmed-legitimate Craigslist post confirmed the close-down, and will be liquidating its remaining stock in the coming weeks. We here at Elder-Geek are saddened by another store’s passing, but will […]