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‘bankruptcy’ Stories

Zynga shutting down Baltimore studio, consolidating offices

, Feb 25th 2013 Discuss [0]

Zynga certainly isn't new to restructuring and shutting down its various studios and offices, and it looks like they're at it again. The COO of Zynga, David Ko, published a blog post today announcing some more changes to the company, namely the closure of its Baltimore studio and the consolidation of three of its offices. Read The Full Story

US Postal Service to axe Saturday service

, Feb 6th 2013 Discuss [0]

The US Postal Service already doesn't deliver on Sundays, and it's been that way for a very long time. However, the USPS is also axing Saturday delivery as well, completely eliminating all weekend delivery. The company has announced that they will be halting regular Saturday delivery starting August 1, but will still do special deliveries for packages. Read The Full Story

THQ corporate offices closing doors today

, Jan 25th 2013 Discuss [0]

After a whirlwind week that saw many of THQ's studios and properties auctioned off to other publishers, the company is closing the doors at its corporate offices and Vigil Games today. IGN has gotten its hands on a memo that was sent out to employees today, asking them to clear out their desks. Some employees will stay on to assist with THQ's transition to its new owners, but the ones who received this memo are serving their final day with the company. Read The Full Story

Remaining THQ IP to be sold off in separate process

, Jan 24th 2013 Discuss [0]

Yesterday, a bunch of studios and properties owned by THQ were auctioned off to other games publishers from around the world. Many of them found new homes, with Relic and the Company of Heroes series going to Sega and Ubisoft making a grab for South Park: The Stick of Truth. Some of the others weren't so lucky, with Darksiders developer Vigil Games not receiving any bids and remaining a part of THQ's chapter 11 proceedings. Read The Full Story

160 Blockbuster UK stores set to shut down

, Jan 21st 2013 Discuss [0]

Last week, Blockbuster UK announced that it had entered administration, with Deloitte appointed as administrator. At the time, we weren't sure what was going to happen to Blockbuster UK's 528 stores and more than 4,000 employees, but today we're getting a better idea. Deloitte has announced that a total of 160 stores will close, with an unknown amount of jobs being eliminated with this shutdown. Read The Full Story

THQ files for Chapter 11 bankruptcy

, Dec 19th 2012 Discuss [0]

We knew THQ wasn't doing so well, but their Humble Bundle seemed to bring their spirits up when they raised over $5 million. However, it looks like that wasn't quite enough, as the game publisher has announced that they've filed for Chapter 11 bankruptcy. While they go through the process, the company will still operate as normal, and all future games will continue as planned. Read The Full Story

Johnson Controls withdraws from A123 auction

, Dec 10th 2012 Discuss [0]

In October, we reported that battery maker A123 Systems was filing bankruptcy. The battery maker produces the battery packs for the Fisker Karma among other things. In October, it looked like A123 Systems assets would be purchased by a company called Johnson Controls. Read The Full Story