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Section 8 studio TimeGate files for Chapter 11 bankruptcy

Section 8 studio and Aliens: Colonial Marines co-developer TimeGate has filed for Chapter 11 bankruptcy protection. Polygon reports the Sugar Land, Texas-based studio filed on Wednesday with total liabilities ranging from $10 million to $50 million.

Its top creditors include Epic Games, from which it licensed the Unreal Engine, among other gaming services and developers. TimeGate also owes an "unknown" amount to Section 8 publisher Southpeak Interactive, which Polygon says is likely its most significant liability.

The studio, which was formed in 1998, even owes a local pizzeria $34.80.

It's been a rough few months for TimeGate. Besides working on the roundly panned (sorry, we're still thinking about pizza) Colonial Marines, it also owes $7.35 million to Southpeak for compensatory damages related to Section 8.

TimeGate reportedly laid off about 25 employees in March.

Connor Sheridan
Connor has been doing news and feature things for GamesRadar+ since 2012, which is suddenly a long time ago. How on earth did that happen?