Being a comic book fan in the ’80s I grew up thinking there was no problem that couldn’t be solved by golden flaky crust or delicious cream filling. Apparently that doesn’t apply to financial insolvency, as snack cake maker Hostess Brands files for Chapter 11 bankruptcy for the second time. More »
Game Crazy went belly-up earlier this year, removing one more retail alternative to GameStop from American shopping centres. The sell-off of its remaining stock is on hold while two liquidators battle over who’s bidding the most for it. More »
Formerly a household name in video games, the bankrupted publisher will end up paying creditors between 16 and 25 percent of what they were owed, under a plan approved by a Delaware judge on Friday. More »
A federal judge reluctantly threw out a creditor claim against the former board of Midway, which alleged that the debt-saddled company pursued loans it couldn’t pay and arranged a sale that screwed company stakeholders while enriching a well-connected few. More »
As part of parent company Movie Gallery, Inc’s Chapter 11 bankruptcy reorganisation, video game retailer Game Crazy stores are dropping like flies, with only 250 stores remaining open in the US once the smoke clears. More »
Lawrence Kasanoff, the producer behind the Mortal Kombat movies, television show, and animated series has filed suit against Midway in U.S. Bankruptcy Court in order to make sure he retains series milking rights. More »
Former employees of the recently shuttered Factor 5 studio in California are taking the company to court, claiming that it fraudulently transferred assets, including source code for the next Rogue Squadron title. More »
Developer Ascaron Entertainment has filed for bankruptcy protection in its home country, Germany.
The U.S. Bankruptcy Court has subpeonaed multimedia mogul Sumner Redstone and his daughter Shari in order to investigate the strange circumstance behind his $100k sale of Midway Games to Mark Thomas.
The long-struggling publisher of Mortal Kombat filed for bankruptcy this morning, calling it a difficult but necessary decision.
