GAMING BLEND

Crytek Denies Being On The Verge Of Bankruptcy

By William Usher 2014-06-23 10:17:14 discussion comments
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There have been some spreading of some troubling information regarding the state of Crytek, the German-based game development studio. A report from a German gaming site painted the video game developer and software publisher in a rather unflattering light with some harsh claims. Well, Crytek has finally bucked up and issued a response in light of the news.

Originally, German gaming site GameStar reported that Ryse was a break-neck disaster and that Crytek was teetering following the release of the Xbox One exclusive. They also mentioned that the “vultures are circling” and that there a lot of disgruntled employees under Crytek's wing. According to a translation from Eurogamer, GameStar wrote that...
"A takeover of Crytek would be interesting for a company, that could use the development-experience of the Crytek and doesn't want to build up such experience itself. That is why the Belarus F2P-giant Wargaming is rumoured to be a potential buyer.

"When you are reading this, there is hope that Crytek has managed to avoid disaster. A new source of money, said Avni Yerli [one of the managing directors], is in sight. When we called him in early June, the contract had not yet been signed, but will be in a short while. 'Not all is good. Our transition to become a F2P-studio had been painful. But all that is now behind us.'"

Deciding to dig further into these claims, Eurogamer reached out to Crytek and queried them about the article and whether or not any of it was true. According to a Crytek press representative, they issued the following response...
Regardless of what some media are reporting, mostly based on a recent article published by GameStar, the information in those reports and in the GameStar article itself are rumors which Crytek deny.”

The interesting thing about it is that the GameStar article is still up, alive and well. If these were merely “rumors” – and they are almost of the most damaging kind as far as corporate perception goes – one would think that Crytek would cite them with a libel charge, no?

Interestingly enough, Crytek's rep instead goes into full PR mode to pimp their latest projects and assure the gaming community that the company isn't in the kind of deep trouble that the reports would lead you to believe, stating...
"We continue to focus on the development and publishing of our upcoming titles Homefront: The Revolution, Hunt: Horrors of the Gilded Age, Arena of Fate, and Warface, as well as providing ongoing support for our CryEngine and its licensees.

"We have received a lot of positive feedback during and after E3 from both gaming press and gamers, and would like to thank our loyal employees, fans and business partners for their continuous support."

Eurogamer doesn't seem entirely content with the answer, and even added that they themselves received reports from a source that the Crytek UK branch had been failing to pay employees on time, as well as creating an atmosphere that encouraged the employees to become disgruntled due to the “lack of transparency”.

Sounds a lot like THQ before they bit the dust, no? Seems ironic that Crytek is now in possession of Homefront: Revolution, the sequel to the THQ property that the publishing giant was working on before they bit the dust.
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