Playlogic, a development and publishing company that released its largest scale game this year in the form of Fairytale Fights, has filed 'surseance van betaling' -- the Dutch version of Chapter 11 bankruptcy.
The company filed a Form 8-K in Delaware today in order to notify its shareholders of the financial situation. In filing the 'surseance van betaling,' Playlogic and its affiliated subsidiaries (Playlogic International N.V and Playlogic Game Factory B.V.) are hoping to delay payments to debtors in order to establish a healthier financial state and avoid closure.
In addition to Fairytale Fights, Playlogic has released a few other console games in the U.S. during it's 8-year existence, including ObsCure II and World Racing 2. The company has also released many PC-only games in Europe, where the company is headquartered