10tacle Going Under?

[Hell-demon]

It seems 10tacle have declared insolvency.
proof (http://www.gamedaily.com/articles/news/10tacle-declares-insolvency/?biz=1)

Share prices have dropped and it does not look good. With the games market being as competitive as it is, no wonder thsi has happened. Not to mention they haven't released that many high quality games either. Hey, even Flagships Studios, creators of Hellgate: Boredom, are closing their doors soon.

Neocron should be ok. Besides if worse comes to worse KK can find a new publisher.

[Jaffo]

i think everyone is awaiting a special annoucement from KK http://www.techhaven.org/

in the german forums snowcrash says that they will make a official announcement (i think that was yesterday so should be today) - i may be wrong

[CMaster]

Neocron should be ok. Besides if worse comes to worse KK can find a new publisher.

10Tacle own KK, not publish for them. In fact, 10Tacle aren't really a publisher - they are a development group who create games in their numerous subsidiaries and get other companies like EA or Atari to publish them. (NC2 "international release" was published by Atari for example). I think some games may have been published in germany exclusivley by them, not sure.

That said, we have an article all about this (http://www.techhaven.org/neocron/news/10tacle-declares-insolvency.html) on the THN that covers as much as it as we can. Snowcrash has told the germans forums that there will be an announcement on it today.

[CMaster]

142765
http://www.techhaven.org/content/view/390/1/

Edit:made the link a "thread" rather than "url" for Logan's benefit.

[Riddle]

I can;t access any of the game sites ! unfortunately blocked but from what you guys have wrote on THN i understand they have gone insolvent, not in Liquidation yet?

A subtle difference in the world of finance on how the administrator deals with the company.

From my time in practice, basics are get it back up and running, call in debts, re-finance, cut non-essential overheads, dump some assets etc. Looks like they have been through a few rounds of this so may not be many more options.

If it's liquidation, sell everything, get what you can and pay of creditors.

Either way i see KK as in a reasonable position aslong as wages, and costs can be met.

Overall KK have NC, small income but probably covers costs. They have BP due Q4 2009? not that far away, so could be re-financed with the risky elements of the group removed could stand on it's own 2 feet.

i await the annoucment, somewhat concerned that Germany operates substantially different from the UK.

[Lodar]

Please use the existing discussion thread (http://forum.neocron.com/showthread.php?goto=newpost&t=142765) in the Announcement Forums. Thanks.