) has word that the developer has voluntarily filed for
Chapter 11 bankruptcy protection. They answer some FAQs about the filing, and
what the future holds for Artifact Entertainment and Horizons: Empire of
Istaria, their MMORPG. Here are a pair of Q&As:
Q: What is Chapter 11
and how will it affect Artifact Entertainment business and Horizons service?
Will the company continue to provide ongoing service to Horizons' fans during
the restructuring period?
A: Chapter 11 bankruptcy protection is used by companies experiencing cash flow
difficulties who need time to restructure debt to continue operations.
Continental Airlines and May Company department stores are two examples of
companies that successfully used Chapter 11 protection to get their businesses
into better financial health. We have sought court protection in order to
prevent interruption of service and are taking every step possible to ensure
Horizons’ players experience seamless game play. In fact, Artifact Entertainment
has been working diligently to create new content for the game, including the
development of new creatures, quests, events and lore that will be introduced
within the next two months.
Q: In terms of other actions being taken to get the company into better
operating shape, can we expect to see more layoffs?
A: Currently, we are in talks with a seriously interested company that wants to
acquire the assets of the company while retaining key staff to maintain
operations of Horizons.