Majesco close to bankruptcy

Staff laid off as the publisher files with SEC over "substantial doubt about our ability to continue as a going concern".

It seems like the distributor Majesco (Cooking Mama, Bloodrayne) is dangerously close to bankruptcy, according to Gamasutra. Despite a big reduction of workforce recently, they don't seem to cope financially and in a recent earnings report, Majesco writes that they "suffered losses that raise substantial doubt about our ability to continue as a going concern."

Majesco also says they are "currently not developing any significant new games for release in fiscal 2015" in their filings with the SEC.

The company has sold off their stake in GMS (online casino related business), and their main remaining business is the indie label Midnight City that recently released Double Fine's Costume Quest 2. This follows not renewing their deal with Zumba earlier this year.