Bankrupt publisher Playlogic is to reinvent itself as a digital publisher, with plans to release titles on Microsoft, Nintendo and Sony consoles worldwide.
The Dutch publisher was declared bankrupt at the beginning of August, citing problems with 'tough market conditions, late payments by large customers and delays in projects'. The new company will be known as Playlogic Entertainment NV and has no connection with the US listed company Playlogic Entertainment Incorporated.
Playlogic had previously been able to keep subsidiary Playlogic International NV in business, which was recently able to release Fairytale Fighters in Asia.
The new company will also expand its activities through an unnamed "foreign subsidiary" - possibly Playlogic International - to focus on "games of chance (Play For Fun and Play For Real) for mobile phones, tablets, and the online market". A major acquisition of a company already active in the market will also be announced soon.
Playlogic Entertainment will begin to re-employ some former staff from 1 January 2011 and plans to announce its first titles shortly thereafter. The new company will be led by Rogier Smit, with Marcel Noordeloos joining as chief financial officer. Willem Smit will become chairman of the advisory board.