GenCon files Chapter 11

[Qualidar]

Link is here .

 

[Mouseferatu]

Yikes.

I'm glad to hear the con's still on for this year, at least. I really hope they can, as they claim, get things settled so that they can continue to have the conventions for years to come.

 

[Glyfair]

I wonder how this ties in with them being sued by LucasFilm. I can see this issue being a reaction to the lawsuit, or the dire circumstances being the cause of the situation that is causing Lucasfilm to sue them.

 

[Qualidar]

It's possibly a move to insulate them from the lawsuit.

 

[SPoD]

It's possibly a move to insulate them from the lawsuit.

That was my first thought as well. If GenCon KNOWS that they would lose at trial, it may be in their interest to file for Chapter 11 first (under the guise of losses associated with GenCon SoCal). The protections of Chapter 11 may give them more breathing room in the eventuality of a decision against them.

However, from a PR point of view, it looks terrible. First they fail to give money to a charity, then they get sued over it by George Lucas, now they're going bankrupt? I hope this doesn't cause other companies to pull out of the convention and cause a death spiral.

 

[tennyson]

When I read the subject, I thought this post was a continuation of "The GenCon Files", wondering where were chapters 1 through 10?

I need to get to sleep.

 

[theredrobedwizard]

When I read the subject, I thought this post was a continuation of "The GenCon Files", wondering where were chapters 1 through 10?

I need to get to sleep.

You were not, in fact, the only one. Those were my girlfriend's exact words. "Wait, where are chapters 1 through 10?"

-TRRW

 

[Khairn]

I wonder how this ties in with them being sued by LucasFilm. I can see this issue being a reaction to the lawsuit, or the dire circumstances being the cause of the situation that is causing Lucasfilm to sue them.

I would be very surprised if there wasn't a direct cause and effect between the two. The timing is just too ... coincidental.

 

[Kid Charlemagne]

I wonder how this ties in with them being sued by LucasFilm. I can see this issue being a reaction to the lawsuit, or the dire circumstances being the cause of the situation that is causing Lucasfilm to sue them.

The press release mentions that the cause of the bankruptcy is "a result of significant unforeseen expenses associated with attempts to expand its core business to encompass externally licensed events."

It seems likely that this means either A) they tried to build other Cons than GenCon and they didn't work out so well, which also explains the Lucasfilm situation, or B) the unforeseen expenses ARE the Lucasfilm situation.

 

[Truth Seeker]

Mercy...that the Force in effect...

The press release mentions that the cause of the bankruptcy is "a result of significant unforeseen expenses associated with attempts to expand its core business to encompass externally licensed events."

It seems likely that this means either A) they tried to build other Cons than GenCon and they didn't work out so well, which also explains the Lucasfilm situation, or B) the unforeseen expenses ARE the Lucasfilm situation.