Cheyenne Mountain Files For Bankruptcy

22 Feb 2010 at 12:41:40 by Bill Vaughan

The company behind the troubled Stargate MMO has filed for a form of bankruptcy.

Developer FireSky announced on its forums that Cheyenne Mountain Entertainment has filed for Chapter 11 bankruptcy, but don't panic - the long-awaited Stargate Worlds isn't dead and buried just yet. Chapter 11 simply allows companies to reshuffle their debts. However, the decision to take the drastic step didn't go smoothly, and as a result, there's been some changes in management.

“Cheyenne Mountain’s corporate structure has undergone some dramatic changes in the last few weeks, and that has resulted in various actions such as the filing for Chapter 11. Certain parties believed that was the right thing to do, other parties do not and this is still being evaluated and may be rescinded.” said the blurb on the FireSky site.

In addition to the financial troubles, or maybe because of them, Cheyenne Mountain's former CEO and chairman Gary Whiting has been named in a lawsuit over “alleged various wrongdoings against the company”.

Regardless of all the legal shenanigans though, FireSky's latest game, Stargate Resistance, is still going strong and the team is still working hard on upcoming content:

“our entire staff is in-house working on upgrades and expansions for Stargate Resistance, and we continue to be motivated and excited by the response we’ve received from our customers.”

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