Red Ant Enterprises future in doubt

PALGN News | Could Resident Evil 5 and Street Fighter IV end up suffering delays?

Red Ant Enterprises appears to have gone into receivership, with a listing on the Australian Securities and Investments Commission stating that the company is now listed as being "UNDER EXTERNAL ADMINISTRATION and/or CONTROLLER APPOINTED", which essentially means the company is in administration.

Red Ant is the local Australian distributor for titles from Midway, Konami, Besthesda and Capcom and were set to distribute Street Fighter IV as well as Resident Evil 5 in Australia. We have been unable to establish contact with Red Ant, so at the moment the release dates and distributors for these aforementioned titles and all upcoming Midway, Konami, Besthesta and Capcom titles is currently unknown.

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23 Comments

werd123

3 years ago

Scary, we might not have distributors left.

pedantics

3 years ago

Having an "administrator appointed" and "going under" are two VERY different things.

Clearly somebody thinks the business is salvagable... it's not like they're in liquidation.

Infested Jibbs

3 years ago

pedantics wrote

Having an "administrator appointed" and "going under" are two VERY different things.

Clearly somebody thinks the business is salvagable... it's not like they're in liquidation.

No they're not.They're different, but not THAT different.No two ways you look at it red ant are on shaky ground.

The Genius

3 years ago

More companies should turn to Activision and EA to distribute their games here in Aussie. They do a great job getting games out on time.

Sin Ogaris

3 years ago

Why are the article and forum topic titles different? I thought they were usually the same thing?

ugh the boot

3 years ago

Administrator appointed usually means another proprietor is looking after the finalization of accounts, such as paying out shareholders, investors etc.

Tom101007

3 years ago

these are the same guys who have the liscence to to Rebuild of evangelion, id better buy that dvd now...

sobriquet835

3 years ago

My gut wrenched when I saw this. Hopefully any games they're supposed to have distributed can be picked up by another distibution company.

pedantics

3 years ago

ugh the boot wrote

Administrator appointed usually means another proprietor is looking after the finalization of accounts, such as paying out shareholders, investors etc.

That's liquidation. You're confused.

No doubt, without a bail-out or purchase, the company's likely on the way out - but businesses usually trade through administration and hopefully they hang around long enough to push SFIV and RE4 out the door!

The Genius wrote

More companies should turn to Activision and EA to distribute their games here in Aussie. They do a great job getting games out on time.

You mean like Rock Band?

ugh the boot

3 years ago

WTF? I think you're confused. I used to work for Baycorp Advantage or now know as Veda Advantage.

In the Corporations Act having an external administrator is a reference to the registered liquidator. In other words...same thing!

AndrewB

3 years ago

ugh the boot wrote

WTF? I think you're confused. I used to work for Baycorp Advantage or now know as Veda Advantage.

Small world - so did I (when it was Baycorp)

Jarrod

3 years ago

Factor5. Free Radical. EGM. 1up. Red Ant.

And people still don’t think there is something wrong with the industry’s business model?

pedantics

3 years ago

ugh the boot wrote

In other words...same thing!

Not necessarily.

And I'm not about to compare CVs with you.

ugh the boot

3 years ago

No need, yours is cleary inferior:

Under the Corporations Act 2001

external administrator means any of the following:

(a) a liquidator or provisional liquidator;

(b) a receiver, manager, managing controller, receiver and manager or other controller (other than an ADI statutory manager);

(c) a voluntary administrator or administrator of a deed of a company arrangement or a scheme manager.

ugh the boot wrote

Administrator appointed usually means another proprietor is looking after the finalization of accounts, such as paying out shareholders, investors etc.

So again, if you had any problem with my orignial comment (which is why this whole thing began), then you're wrong. There won't be any 'salvaging', administrator usually makes sure current investors don't get rorted it's not for finding more investors in an already sinking ship. Also there is a difference between 'voluntary' administration and 'external' administration. In voluntary adnministration there are circumstances where the business can be turned around or salvaged but you won't see this happening in external administration.

A person goes into external administration for any of the following:

(a) they become a body corporate that is an externally administered body corporate within the meaning of the Corporations Act 2001

(b) they become an individual who is an insolvent under administration within the meaning of the Corporations Act 2001

c) someone takes control of the person's property for the benefit of the person's creditors because the person is, or is likely to become, insolvent.

Now we come to the term Insolvent. Do you require an explanation on that? Long story short...close to bankruptcy.

pedantics

3 years ago

I read your original comment as a direct rebuttal to my point (itself a response to the original - since corrected - title of this news story) about administration not necessarily constituting "going under" - taking particular exception to your use of the terms "usually" and "finalisation".

If this is not the case, I apologise. Replace the term "usually" with "often", and "finalisation" with "assessment", and we can all relax and have a ****.

And until there's some kind of announcement or more information surfaces, there's really no way to know what's really going on.

ugh the boot

3 years ago

Well i actually thought your post was a direct rebuttal to mine? Huh! I think i'm taking crazy pills this arvo. It seems (judging by your last post) that we're actually in agreement and have been debating technicality so we've wasted 1/2 a thread. Oh well...atleast I found an old Baycorp worker! w00t!

Oh well like you said....coke and a smile. (I quit alcohol during work hours

)

Dovey

3 years ago

This isn't really a big concern for the games in question from what I have heard is that another distributer will be found shortly (Im guessing atari) and the game street dates aren't expected to change

i_zombieman

3 years ago

WHats the bet that nothing happens? We get all worked up and then bang, nothing. I guess Microsoft Australia and Sony Australia could take the reins for these big release games. More moolah for them.

stick_theory

3 years ago

So i guess playasia is the new distributor?

well at least the number of games to purchase will be reduced for a bit. as well as an increase in study time.

AlphaDark

3 years ago

Concur with 'ugh the boot', sad to say but Red Ant will not be revivable..
As for

i_zombieman wrote

Microsoft Australia and Sony Australia could take the reins for these big release games.

you have as much chance of that happening as I do receiving 10 million dollars in my pay this week and buying Red Ant.
My guess is Atari or THQ will be the two leading the pitching for the distribution of Red Ants majors.

ugh the boot

3 years ago

It's funny I never heard of Red Ant before this so it's a little weird.

Who distributed Resident Evil 4? Was it Ubisoft? Why can't Capcom distribute their own games? Do they do their own distribution in Japan? Somebody HELP!!

pedantics

3 years ago

whatever this means...

http://www.kotaku.com.au/games/2009/01/capcom_says_no_street_fighter_iv_delay_in_australia.html

ugh the boot

3 years ago

Awesome news! Damn I knew I should've checked Kotaku before logging on here.

That settles the problem then I guess. I'm pretty certain Capcom will avoid problems shipping Resident Evil 5 as that is still a couple of months away and things should be sorted out by then, plus it says so in the article that it'll avoid any problems.

SFIV was the only one I was worried about but that has also been put to rest.

Is Red Ant an Australian company? Well I hope the employees land on their feet anyways.

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