10Tacle Studios AG files for bankruptcy

10Tacle Studios AG files for bankruptcy (in German). Bye bye to that last bit of money they owe me from a few months ago I guess. I am not the only one they still owe money to.

The big question for a lot of people in the German-speaking industry will be: What took them so long? They kept buying studios and not releasing games. My impression is that they were way better at financial wizardry than at producing games.

When I was discussing doing work for them I mentioned my doubts about public companies buying lots of studios. The guy I talked to said: “Maybe it reminds you of JoWooD?” and I said: “No… Phenomedia” (which still exists, wow).

Anyway, luck and strength to all the people trying to make good games there.

Comments 4

  1. Stitched wrote:

    I guess the bigger question, now, is where are all those people going to go? Is game development so big that it can absorb all the that talent?

    Posted 07 Aug 2008 at 8:24
  2. Mark wrote:

    This just doesn’t need to happen any more. Watching companies do this kind of thing, all I can think of is a kind of inverted Ponzi scheme, where the addition of new studios keeps enough cash in the pipeline to keep the whole financial structure from collapsing…until you need to add even more studios.

    And I’m not excusing the individual studios, either (or pointing any fingers). The ability of a company to buy a studio is often predicated on the fact that the studio itself has gotten into fincancial trouble, making it ripe for a ‘takeover’ or ‘merger’ or whatever you want to call it.

    Everybody at every level needs to think long and hard about staying financially healthy every day.

    Posted 07 Aug 2008 at 8:34
  3. Jurie wrote:

    The good people should be able to find jobs without too much trouble, I get the impression people are dying to find talent.

    Posted 07 Aug 2008 at 9:30
  4. elbarto wrote:

    Hey dude!! yeah you’re not the only one whom they owe money a lot of us here in Asia are waiting for our money as well.. which they promised to pay after the Asia studio began retrenching.. but now, I guess we won’t hear anything from them anymore..this is really bad news ..

    Posted 20 Aug 2008 at 20:53