Fishlabs has declared bankruptcy

While the studio is looking for investors, 25 employees have lost their jobs. This measure has become necessary to reduce costs, in theory, it will help the studio to continue its work.

Most of the cuts affected the marketing and decoration departments, the composition of the development team has not changed much. The company hopes to stay afloat. According to promises, a free-to-play title Galaxy on Fire: Alliances, which is under development, will be released soon.

According to the studio’s representative, since July 24, Fishlabs Entertainment has been going through the so-called Creditor Protection Procedure. Since October, normal work has resumed, and the company continues to manage itself: “Contrary to recent rumors, the company has not been liquidated, and business operations are carried out normally.”

CEO and co-founder of the company Michael Schade expressed deep regret about the measures taken: “It was one of the most difficult days for me and co-founder of Fishlabs Christian Lohr in the entire history of the studio. We actively support our former employees in the process of finding a new job, and we are confident that our experience in the mobile industry and good business contacts in this area will help them. Thanks to the reduction, our first free title Galaxy on Fire: Alliances, as well as another project for Volkswagen China, which is under preparation, we are sufficiently prepared to meet new investors.”

Source: www.gamesindustry.biz