Post by Segaman on Aug 31, 2004 13:09:41 GMT -5
According to several insiders and reports online, Acclaim has been closed after 17 years of operations. Publisher of such game series as NBA Jam, Turok and recent titles such as Alias and the controversial BMX XXX, employees were reportedly notified at the end of Friday. Apparently, both their New York and Texas offices have been shuttered.
Official comment from Acclaim is still forthcoming. The company has NOT yet filed for bankruptcy protection as of the time of this writing. However, according to sources, employees were told that bankruptcy filing would happen soon. Acclaim was recently unable to secure a loan that would keep them in operations and allow them to release forthcoming games such as The Red Star, 100 Bullets, and Juiced. It is unknown at this point what will become of those games, although another publisher stepping in and acquiring the titles is possible.
Acclaim has been running into all sorts of trouble in the past few years. It has suffered failure-ridden titles like the underselling Turok: Evolution, along with the loss of said Turok license in addition to the Major League Baseball Players' Association license that fueled their All-Star Baseball series. This is in addition to a lawsuit filed by Mary Kate and Ashley Olsen over the underperformance of their licensed games. All this and more has resulted in the plummet of Acclaim's stock and now the apparent "end of the road" for the company.
Official comment from Acclaim is still forthcoming. The company has NOT yet filed for bankruptcy protection as of the time of this writing. However, according to sources, employees were told that bankruptcy filing would happen soon. Acclaim was recently unable to secure a loan that would keep them in operations and allow them to release forthcoming games such as The Red Star, 100 Bullets, and Juiced. It is unknown at this point what will become of those games, although another publisher stepping in and acquiring the titles is possible.
Acclaim has been running into all sorts of trouble in the past few years. It has suffered failure-ridden titles like the underselling Turok: Evolution, along with the loss of said Turok license in addition to the Major League Baseball Players' Association license that fueled their All-Star Baseball series. This is in addition to a lawsuit filed by Mary Kate and Ashley Olsen over the underperformance of their licensed games. All this and more has resulted in the plummet of Acclaim's stock and now the apparent "end of the road" for the company.
