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Acclaim Officially Files For Bankruptcy

According to New York Newsday, game publisher and developer Acclaim Entertainment has now ended the uncertainty over its fate by officially filing for Chapter 7 ba...

Simon Carless, Blogger

September 1, 2004

1 Min Read
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According to New York Newsday, game publisher and developer Acclaim Entertainment has now ended the uncertainty over its fate by officially filing for Chapter 7 bankruptcy at the U.S. Bankruptcy Court in Central Islip, New York. Acclaim listed assets of between $10 million and $50 million, and debt of more than $100 million in the filing. The company will now cease operating completely, and liquidate its assets in attempts to pay off the debt. This final step comes after an unsuccessful attempt to secure a $65 million loan in order to continue trading. The company's offices in Glen Cove, New York; Austin, Texas and Manchester, England closed late last week, with many employees locked out of offices and missing paychecks.

About the Author

Simon Carless

Blogger

Simon Carless is the founder of the GameDiscoverCo agency and creator of the popular GameDiscoverCo game discoverability newsletter. He consults with a number of PC/console publishers and developers, and was previously most known for his role helping to shape the Independent Games Festival and Game Developers Conference for many years.

He is also an investor and advisor to UK indie game publisher No More Robots (Descenders, Hypnospace Outlaw), a previous publisher and editor-in-chief at both Gamasutra and Game Developer magazine, and sits on the board of the Video Game History Foundation.

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