Fairytale Fights publisher in trouble

Playlogic "facing tough times".

Fairytale Fights publisher Playlogic has denied it's going bankrupt despite suffering huge losses.

The Dutch company made a net loss of $2.2 million for the period January to March 2010, GamesIndustry.biz reports.

It's even defaulting on weekly loan repayments of 25,000. Doesn't sound good, does it?

Fairytale Fights is a PC, PlayStation 3 and Xbox 360 hack and slash that was released in October last year.

Eurogamer gave it 4/10.

Speaking to GamesIndustry.biz, Playlogic's Rick van Beem denied the company was going bankrupt, but admitted it was "facing tough times".

It reckons one of its main customers, distributor Koch Media, has not paid up since December 2009. Playlogic is taking legal action for unpaid bills totalling 1.7 million.

"If the Company does not obtain any necessary financing in the next month, we may need to cease operations," Playlogic said in June.

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