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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...

David Jenkins

July 20, 2004

1 Min Read

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

About the Author(s)

David Jenkins

Blogger

David Jenkins ([email protected]) is a freelance writer and journalist working in the UK. As well as being a regular news contributor to Gamasutra.com, he also writes for newsstand magazines Cube, Games TM and Edge, in addition to working for companies including BBC Worldwide, Disney, Amazon and Telewest.

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