In the software industry, this is not an uncommon problem. The longer you hold off release, the more you bleed money before making income. Your creditors are saying you need to generate income from the work sooner rather than later. They probably drew a line and said "You are releasing by this deadline".
Often the problem is that the planning just wasn't good enough or the scope was allowed to creep or they tried to do something too risky and the timeline got burnt.
My guess with the console development company was that was their best option considering time, availability and budget. 12 developers sounds like a budget thing. They took the risk that the port was not a big amount of work.