Wed, 07 Aug 2013 | ADMINISTRATION
Troubled games group Zattikka has entered administration, having buckled under the weight of its debts.
It had been struggling to repay a loan of £275,000 to developer Hattrick, by the deadline of 2nd August. It emerged last month that Zattikka had been advised not to make the payment as this could cause additional problems if it entered administration.
David Dunckley and Ian Corfield of Grant Thornton UK LLP have been hired to take matters in hand and restructure the company. They were also appointed the administrators to Hattrick Europe Limited on the same day 5th August.
The London-based business has now sold some key assets to Hattrick Limited relating to the Hattrick and Popmundo games. It has also agreed to sell Arena of Heroes developer Sneaky Gaming LLC to Seal Gaming, and the animation studio Concept Art House to CAH Holdings Group Inc in a bid to settle its debts. The asset sale also includes a licence to use and adopt SNAP source code for internal uses.
After these disposals the business will have successfully reduced its debts and has met its total loan repayments to Hattrick.
Contact the administrators here
_________________________________________________________________________
Related information:
Zattikka at risk of administration
View the latest technology businesses for sale
This business prides itself on an innovative moulding tool leasing service that encourages long-term customer loyalty, with many clients partnered for over two decades. With operations spanning multiple sectors and a strong, experienced team, it redu...
This thriving vehicle repair and maintenance business boasts established relationships with major UK insurance firms and offers a unique opportunity for expansion, supported by its skilled team and strategic location. The inclusion of a 22,500 sq ft...
Project Navron offers a unique opportunity in the renewable energy sector, delivering a turnkey landfill gas to power solution that significantly lowers methane emissions while providing sustainable income for landfill owners. With strong industry re...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.