Annapurna Pictures, the parent company of video game developer Annapurna Interactive, is seeking bankruptcy protection after eight years of operation.
The Hollywood Reporter revealed that the company’s film division suffered from some lukewarm box office performances, requiring it to enter “negotiations to restructure their deals with the banks.” According to an Annapurna spokesperson, the owners “remain in full support of the company and are dedicated to Annapurna’s future.”
Annapurna’s video game division is behind award-winning titles including Donut County and What Remains of Edith Finch. At the moment, it’s unclear how the the games division will be affected but a tweet by the developer claims, “we good.”
Following the publication of The Hollywood Reporter’s article, owner Megan Ellison reportedly sent staff the following email:
Dear AP Team,
I got word this morning that there are some rumblings around town about our current status with the banks and that a story is likely to hit the press at some point today.
Restructuring deals with financial institutions is not uncommon, yet the process is usually handled without a spotlight on it. Fortunately/unfortunately, people like to write about me and my family.
That said, it is of tremendous importance to me that you all know we are as committed as ever to this company and are in full support of our future.
Regardless of whatever comes out in the press, the truth is that we are well on our continued path towards success. There will always be speculation, misinformation and personal jabs in the press – that’s part of the business.
But know, none of that matters to me. What does is your sense of security and protecting the special community and culture at Annapurna. I believe in what we make and have no intention of stopping any time soon.
We have a lot of exciting things on the horizon and I have no doubt all of our hard work will continue to show Annapurna’s unique and powerful place in this industry.
If you have any questions or want to talk, please do not hesitate to reach out.
We’ll update our readers when we have more information.
[Source: The Hollywood Reporter]