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The French commercial court have decided to wrap up affairs over at publisher Titus Interactive and declare them bankrupt.
The company had debts of around 33 million Euros, and had been in a state of receivership as a result. Courts decided that the company were not in a position to actually produce any more games, and as such “There was no hope of financial rectification.” The original court date in February was scrapped, and so it would seem was the company.
The news may have further ramifications for the US offices of Interplay, of which Titus owned a 67 percent controlling stake – whilst the French subsidiaries of Titus (Sofra Jeux, Avalon France and GIE Titus Interactive) have been placed in ‘protected receivership’ and have a chance to continue trading, Interplay is in a very weak position. Having lost or been stripped of most of its licences – including the Dungeons and Dragons owned Baldurs Gate name – the firm doesn’t seem to have much going for it. Whilst the closure of Titus by no means puts Interplay under, the definite possibility cannot be ignored.
Also affected by the closure were the British offices of distribution company Avalon, whose future has been left firmly in the ‘uncertain’ category.
2005 to carry on as 2004 left off? Closures galore? We’ll let you know when we do.
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