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GenCon LLC files for Chapter 11 Bankruptcy
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SEATTLE (February 15, 2008) Gen Con LLC announced today that it has filed for Chapter 11 protection in the United States Bankruptcy Court for the State of Washington. This action became necessary as a result of significant unforeseen expenses associated with attempts to expand its core business to encompass externally licensed events. Gen Con’s flagship show, Gen Con Indy, remains a vibrant, profitable event. Gen Con Indy will take place as scheduled August 14–17, 2008, in Indianapolis, Indiana.

The protections afforded by Chapter 11 will allow Gen Con to further its efforts to address its liquidity needs, preserve value for its creditors and explore strategic alternatives for the business. “Because the fundamentals of our business are strong; and because our debt problems are challenges mostly linked to one-time events, we feel confident that the profile of our company will benefit under Chapter 11 and come out strong in the end,” said Peter D. Adkison, CEO of Gen Con.

Chapter 11 refers to the section of the U.S. Bankruptcy Code that provides for court-supervised restructuring of companies as they continue to operate normally. This proceeding is intended to help companies to become stronger financially.

Gen Con LLC will continue to operate without interruption during this process and looks forward to an expeditious resolution to the short-term challenges and the ability to focus entirely on producing Gen Con Indy, The Best Four Days in Gaming. International Gen Con events are unaffected by this situation and will continue to operate as scheduled.

About Gen Con

Gen Con, LLC produces the largest consumer fantasy, sci-fi and adventure game convention in North America. Itts operations include Gen Con Indy and licensees for European and Asia Pacific Gen Con shows. It was acquired in 2002 by former CEO and founder of Wizards of the Coast Peter Adkison, who solely owns the company headquartered in Seattle, Washington. Gen Con is a consumer and trade experience dedicated to gaming culture and community. For more information visit the website at www.gencon.com.

And in related news... Lucasfilm sues Gen Con
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Damn. Here's hoping they manage to work their way out of this mess.

Agreed. Gen Con is a great show.

I've heard good things from friends and acquaintances of mine who've been to this show over the years. It would be a shame if Gen Con did not survive these troubles.

Wow.

I was for sure that GAMA would have gone bankrupt first.

I wonder how this will affect GenConUK. I don't know if they have any funding involvement or if they just let the name be used here.

Gen Con UK is run by Horsemen Events, Ltd, under license from Gen Con LLC. So this shouldn't change anything about it.

They licences use of the name—they tried running an event here, at Olympia over an Easter weekend, it lost huge amounts of money, and turnout was terrible (one of the largest individual events was the Warlord CCG tournament, and much as I love that game, there's no way that should've happened).

So Horsemen took it over and took it back to a smaller thing in much cheaper locations.

Basically they over extended, tried to do too much and too many of them went badly wrong. Whether they can keep the company as big as it needs to be for only a small number of profitable events is another question really.

I was at the Olympia GenConUK, that was run by Horseman. And according to Grim, had record numbers of deligates. I know I remember it being really busy despite being in such a big venue.

The Horseman GenCons since then I've not been terribly impressed with though.

Still hopefully the use of the name won't get liquidated in the Chapter 11.

There were at least three at Olympia, I was at all three, and the last was definitely run by GenCon LLC as "GenCon Europe" under their auspices, it was very soon after they aquired the event from Wizards.

I'm 100% sure it was run by them as they had a godawful event registration system and I ended up having to go to their head of events in order to sort some stuff out. Horsemen may or may not have been involved, but I spoke to Adkinson personally at both the Easter Olympia event and at the first SoCal GenCon and he confirmed that that Olympia event had run at a huge loss.

The previous two years Olympia GenCons had been much better—the first Olympia event was my first, I was on the demo/events team for the launch of AEG's Warlord, and it was great fun.

I went to the first officially Horsement licened event at Minehead, and the tent leaked all over our prize support, so although it was a great fun weekend, as an event it wasn't the best ever.

The Olympia one I'm referring to was in 2002. Which isn't the easter one, lovely hubby was mistaken. But I'd swear Horseman was running it or at least involved with running it. You just don't forget a man who's over 6foot tall, as big as 3 of me (I'm small) and wearing a bright red tshirt handing you your tickets.

We were vendors at the Minehead one in that horrible tent. Whoever thought that a tent on the west coast in October was a good idea should have been shot. That was miserable.

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