Artifact Files for Bankruptcy

The volatile massively multiplayer online market has claimed another victim with Horizons: Empire of Istaria developer Artifact filing for voluntary reorganization under Chapter 11 bankruptcy protection, in order to restructure its debt. The move follows two previous rounds of staff redundancies and a payroll cut earlier this year. Company representatives claim that the move will not interrupt the gameplay of Horizons, but admit that the company has failed to reach an agreement with a “key vendor” (presumably publisher Atari) over finances. Officials have also confirmed that attempts are being made for a full scale sale of the company, with due diligence underway by a “seriously interested company that may make an offer to acquire the assets of the company.” Source: GameSpot