Annapurna Interactive's Parent Company Seeking Bankruptcy
It's unclear how Annapurna Pictures' bankruptcy could affect its games division.
Though Annapurna Interactive has a bevy of award-winning games under its belt, including Donut County, Florence, Gorogoa, and What Remains of Edith Finch, the publisher's parent company seems to be in a financial bind, The Hollywood Reporter reports. Annapurna Pictures, the film production company best known for popular hits like 2013's Her (starring Joaquin Phoenix) and 2014's Foxcatcher (starring Steve Carell), has retained a law firm to explore bankruptcy protection.
According to THR's report, Annapurna Pictures could "no longer sustain the [bleeding of money]" from lackluster box office performers like 2016's black comedy thriller The Bad Batch (starring Keanu Reeves), 2017's crime drama Detroit (starring John Boyega), 2019's animated adventure Missing Link (starring Hugh Jackman), and more. An Annapurna spokesperson told THR that the company "is in negotiations to restructure [its] deals with the banks [but] are dedicated to Annapurna's future."
The company, founded in 2011 by the daughter of Oracle Corporation's co-founder Larry Ellison, has several arms under its umbrella, including prolific indie publisher Annapurna Interactive. Company founder Megan Ellison, following THR's report, sent a note to her staff, saying, "Restructuring deals with financial institutions is not uncommon, [but] the truth is that we [Annapurna Pictures] are well on our continued path toward success." She said that giving a "sense of security" is paramount to her and the company as a whole. "I believe in what we make and have no intention of stopping any time soon," Megan wrote. "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."
As Gamasutra notes, It's unclear how the company's "restructuring" will affect Annapurna Interactive. There's also no clarification on how well the publisher's games have been doing as of late.
Annapurna Interactive recently announced its haunting adventure title Twelve Minutes on Xbox's stage during E3 2019. The studio's latest publishing credits, Outer Wilds, launched on PC and Xbox One in May 2019. In our Outer Wilds review, we said, "By letting you chart your own course and piece together its mystery at your own pace, Outer Wilds makes each of its expeditions feel incredibly personal and absolutely unmissable."