The Swedish holding company Fragbite Group has filed for bankruptcy for the studio Fall Damage. They reported that the developers are in a dire financial situation as they were unable to find a publisher for the free-to-play shooter Alara Prime.
Alara Prime
According to Fragbite Group, the studio showcased the game to numerous companies. While Alara Prime was praised, no one agreed to sign a publishing contract. Currently, Fall Damage continues working on Alara Prime and negotiating with publishers, but Fragbite Group does not believe in the success of the negotiations or the studio's ability to repay debts within the stipulated timeframe.
The amount Fall Damage owes has not been disclosed. Last fall, the studio mentioned that 180 million Swedish kronor ($16.85 million) had been invested in Alara Prime.
Fall Damage was founded in 2016 by one of the DICE founders, Markus Nyström, along with three of his colleagues. The studio became part of Fragbite Group in October 2023.