Close
Are you sure? Are you sure you want to report this comment? I understand, report it. Cancel

Fishlabs files for bankruptcy, but hopes to continue trading

Fishlabs files for bankruptcy, but hopes to continue trading

Thu 24 Oct 2013 9:11am GMT / 5:11am EDT / 2:11am PDT
MobileDevelopmentJobs

25 jobs go as studio seeks investor to rescue business

Fishlabs Entertainment GmbH

With an award-winning portfolio of premium titles such as the AAA open space shooter Galaxy on Fire 2...

fishlabs.net

Mobile-focused German studio Fishlabs has filed for the equivalent of bankruptcy, firing 25 staff in an attempt to cut costs sufficiently to be able to continue trading. The company is seeking investors to aid in its financial recovery.

Most jobs have been lost from the marketing and art departments, with core development teams largely unaffected. The company hopes to continue as a business for the time being and has promised that Galaxy on Fire: Alliances, the free-to-play title currently under development, will still see release.

"Since July 24th, Fishlabs Entertainment had been subject to a so-called 'Schutzschirmverfahren in Eigenverwaltung' (Creditors' Protection Proceedings under Self-Administraion) in accordance with 270b InsO (Chapter 11)," the studio's official statement explains. "On October 1st, the regular proceedings have begun with the company still being self-administered. Contrary to recent rumors, the company has not been dissolved and the business dealings are being carried out as usual."

CEO and co-founder Michael Schade expressed deep regret at the measures.

"This has been an extremely hard cut and the most difficult day for me and Fishlabs co-founder Christian Lohr in the history of our studio. We actively support our former employees in finding new jobs and we are confident that our expertise on mobile and our good industry relations will be helpful in that undertaking. With a slimmed-down studio as well as our first free-to-play title Galaxy on Fire - Alliances plus another project for Volkswagen China in the pipeline, we are now well-prepared to get new investors on board."

For an in-depth interview with Schade, conducted at this year's Nordic Game Festival in May, click here.

6 Comments

Bruce Everiss
Marketing Consultant

1,692 594 0.4
Commiserations to everyone involved.
Fortunately the game jobs market is booming.

Commercially mobile is a tough place to be. You have to get all the elements right. If you don't you are toast. If you do there is a huge ROCE to be grabbed.
So we will see more news like this, just as we will see more Supercells.

Posted:10 months ago

#1
too many peeps in the mobile market so difficult to get prominence. PC is probably easiest to develop for

Posted:10 months ago

#2

Andrew Wafer
CEO

21 16 0.8
I hope they stay the course, Galaxy on Fire 2 is an amazing achievement. Good luck Fishlabs.

Posted:10 months ago

#3

Adam Campbell
Associate Producer

1,152 933 0.8
I've had a love for them since their earlier engine technology that brought incredible 3d experiences to Java mobiles and early smartphones. Galaxy on Fire most recently happens to be a quality multi-platform title too.

I think there's too much talent there to go to waste so I'm hopeful they will get the investment they need to continue making great productions.

Posted:10 months ago

#4

Sarah Burns
Producer

1 1 1.0
A real shame to read, hopefully they find their feet quickly.

Posted:10 months ago

#5

Yiannis Koumoutzelis
Founder & Creative Director

360 203 0.6
That came as quite a surprise.
All the best to Fishlabs and those who lost their jobs! A unique company with great people!

Posted:10 months ago

#6

Login or register to post

Take part in the GamesIndustry community

Register now