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Submitted by Jon Wilcox on July 12 2005 - 11:11

The Canadian company announces its insolvency in Toronto...

Hip Interactive Corporation has announced its insolvency after failing to secure further financial backing. A court in Ontario, Canada has appoint Ernst & Young to act as Interim Receivers and proceed with the liquidation of Hip Interactive. Talks were still going on at the end of last week in a last minute bid to assure a future for the company, but a spokesperson from Hip has acknowledged that those talks had now failed.

Hip published the FPS Parish earlier in the year, which managed to secure the number two spot in the UK charts on its release in Spring, and the company was also set to publish a number of games, including George A. Romeroâ??s City of the Dead which had been expected to launch in Q1 2006 â?“ the future of that game is currently unknown.

Weâ??ll bring you more information shortly...

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