Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
December 16, 2018
arrowPress Releases






If you enjoy reading this site, you might also want to check out these UBM Tech sites:


German studio Spellbound Entertainment hit with financial trouble

German studio Spellbound Entertainment hit with financial trouble

March 21, 2012 | By Tom Curtis

March 21, 2012 | By Tom Curtis
Comments
    2 comments
More: Console/PC, Smartphone/Tablet, Business/Marketing



German development house Spellbound Entertainment, which has worked on titles such as Arcania: Gothic 4 and Giana Sisters DS, is having trouble paying its debts, and has recently filed for insolvency.

These financial troubles arose when a pending investment round fell through in its final stages, leaving the company unable to pay off many of its expenses.

An auditor has already evaluated the company's situation, and said that since Spellbound has a good reputation with publishers and number of projects well into development, the studio stands a good chance of reorganizing its capital and getting back on its feet.

Regardless of how things pan out, Spellbound confirmed that all 65 of its employees will receive their usual salaries during the initial insolvency proceedings, and its current projects will continue as planned.

Spellbound was initially founded in 1994, and has focused primarily on developing games for the PC, including titles such as Infogrames' Airline Tycoon and Desperados: Wanted Dead or Alive. The studio's founder, Armin Gessert, passed away in 2009.

Currently, Spellbound is developing RavensDale, a steampunk fantasy action game for Xbox 360, PlayStation 3, and PC. The studio has also dabbled in the mobile space with an Android version of its recent Giana Sisters remake.


Related Jobs

Sucker Punch Productions
Sucker Punch Productions — Bellevue, Washington, United States
[12.14.18]

Cinematic Animator
Cignition
Cignition — Palo Alto, California, United States
[12.14.18]

Game Programmer
Monomi Park
Monomi Park — San Mateo, California, United States
[12.14.18]

Senior Game Designer
Wombat Studio
Wombat Studio — Santa Clara, California, United States
[12.14.18]

Mobile Engineer









Loading Comments

loader image