Aliens: Colonial Marines co-developer TimeGate Studios has filed for Chapter 11 bankruptcy protection.

According to court documents obtained by Polygon, TimeGate owes money to fewer than 50 creditors, and its total liabilities are estimated to be between US$10 million and US$50 million (AU$9.7 million and AU$48.7 million).

Notably, the developer owes money to Unreal Engine developer Epic Games as well as a pizzeria, the latter of which it owes US$34.80 (AU$33.80).

It is also locked in a legal dispute with Southpeak Interactive, which first published TimeGate's first-person shooter Section 8 in 2009.

TimeGate claims SouthPeak withheld royalties and failed to sufficiently localise the game, while SouthPeak claims TimeGate didn't invest enough of its own money into the game’s development.

A since-overturned arbitration decision in March ruled in favour of SouthPeak and ordered TimeGate pay it US$7.35 million (AU$7.16 million).

TimeGate’s latest project is a free-to-play shooter called Minimum. In March there were an undisclosed number of layoffs at the studio.