Fragbite Initiates Bankruptcy Proceedings for Fall Damage Studio Seven Months Post-Acquisition

Fragbite Group has announced that it is declaring bankruptcy for its in-house development studio, Fall Damage, due to the studio's inability to find a publisher for its free-to-play multiplayer game, Alara Prime. Despite being in discussions with multiple publishers, Fall Damage was unable to finalize a deal within the required timeframe, resulting in a severe financial strain. The studio's development of Alara Prime is ongoing, but the financial situation has become unsustainable, prompting Fragbite's board of directors to take this step. Notably, Fragbite Group and its subsidiaries will continue to operate without disruption. This development comes just seven months after Fragbite acquired Fall Damage for an initial payment of SEK 20 million. Founded in 2017 by veterans of DICE, including Gyllenberg, Kalms, Nyström, and Vanderlind, Fall Damage's team has experience working on notable titles such as the Battlefield series and Star Wars Battlefront.