Publisher BitComposer files for insolvency

German developer and publisher BitComposer has filed for insolvency.

The studio claimed its own problems stemmed from the financial difficulties of its suppliers in game development”.Despite claiming its operations are running smoothly” amidst what it has termed a crisis, the company is now seeking a new investor to ensure it can continue game development.

BitComposer had applied for a protective shield procedure on September 26th. This protected the company from foreclosure from creditors, while also allowing it to develop an insolvency plan.As of December 3rd, the studio filed for regular insolvency proceedings. The district court of Frankfurt appointed Robert Schiebe of law firm Schiebe und Collegen as preliminary insolvency administrator.

Develop has more details.

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