Hip Interactive Bites the Dust
Canadian Publisher Declares Bankruptcy
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Hip Interactive has gone belly up after being unable to find help with its financial woes. The publisher had a list of high-profile games soon to be released including George Romero's City of the Dead for PS2 and Call of Cthulhu: Destiny's End for PC, PS2 and Xbox. These games and a large selection of others are now without a publisher as of press time.
Hip Interactive warned investors last week that it was in default on its current loan and was looking for more financial support. It was at that point that its primary backer, Congress Financial Corp., asked that Hip be declared bankrupt. The company's board of directors have all resigned and Hip and its subsidiaries is now being controlled by Ernst & Young Inc.
Source: Canada.com Article
Hip Interactive warned investors last week that it was in default on its current loan and was looking for more financial support. It was at that point that its primary backer, Congress Financial Corp., asked that Hip be declared bankrupt. The company's board of directors have all resigned and Hip and its subsidiaries is now being controlled by Ernst & Young Inc.
Source: Canada.com Article