Acclaim may file for Chapter 7 liquidation - reports

[Vincent]

I wasn't entirely sure where to post this, but it seemed appropriate to be in here (I don't really know that much about Acclaim or what games they had out for the Amiga).



According to GamesIndustry:

Previous rumours of Chapter 11 plans may have been over-optimistic

No official statement or filing has yet been made regarding the future of embattled publisher Acclaim, but sources at the company and media reports alike have indicated that the firm intends to plan for Chapter 7 liquidation.

Under the terms of Chapter 7 bankruptcy, Acclaim would cease operations, liquidate its remaining assets and use the proceeds to pay back as much of its substantial debt as possible - although creditors are unlikely to see anything close to the full amount of their debts.

This is a much more final solution than the Chapter 11 bankruptcy which was being mooted by sources at the company late last week; Chapter 11 would have allowed Acclaim to continue trading while an effort was made to restructure its debts.

:-(

[whabang]

They released a game called "Kate and Ashley Olsen - Sweet 16"; they deserve to get thrown into oblivion! :-D

[TheMagicM]

LOL :lol:

[strife]

They should have sticked to 2d games..  

[Cyberus]

whabang wrote:
They released a game called "Kate and Ashley Olsen - Sweet 16"; they deserve to get thrown into oblivion! :-D

I wonder if iamapaedoperson has it?

[Calen]

The arcade giants fall  :-o

Anyway, on Amiga they did these

[FastRobPlus]

I'd heard this a few days back.  Normally, what happens next is they sell ther assets to other publishers.  Thing is, what assets does Acclaim have?
I remember them best for "Mortal Kombat" but now that Midway publishes home versions, they don't need to license out to Acclaim.  The more I think of it, the more I realise that Acclaim has never done anything original/good.  The two "best" games they came up with themselves were Turok and Forsaken.

Am I missing something?  Is there some other franchise (perhaps back a few years) that Acclaim produced themselves?

[Ilwrath]

Uhm...  The only other worthwhile PC game I can think of that may have been by Acclaim in this decade was "Re-Volt" RC racing.  It's still a fun romp around with little cars, especially for a break at a LAN party, or something.

Really, Acclaim's legacy is that of extremely poor games and, remarkably, even worse taste in marketting gimmicks.  

I don't think I'd even waste a frowny-face on their demise.  :lol:

[Vincent]

I completely forgot it was them that did The Simpsons :-o

/me owns up that he has vs the Space Mutants for the Miggy and Speccy

[Turambar]

I've got a mate that works for them. He's just lost his job obviously :/

[Ilwrath]

I've got a mate that works for them. He's just lost his job obviously :/

 :-(   I'll put a frowny-face for the people who lost jobs because of this.  In the economy (or lack thereof) around here, that's always a bummer.  Hopefully one of the healthier game houses will be able to pick them up.  :-)

[Turambar]

Supposedly that's not an option, nobody wants them because they are in so much debt. All they can do is sell off all their assets and hope to pay some of it off.

[Ilwrath]

Oooooops.  Sorry.  I meant hopefully someone will pick up (hire) the now unemployed EMPLOYEES before THEY accumulate too much debt.  ;-)

The corpse of Acclaim can rot out in the sun.

[FastRobPlus]

That's right!  They had the license for "The Simpsons".  That means they published "Bart's Nightmare", the last game to be made by master game designer Bill Williams before he got fed up with the industry and retired.  

Assuming the above story is true (I'm going off Internet accounts), I wonder how much (if anything) Acclaim might have had to do with it?

[Turambar]

Acclaim were publishers as well as developers, they recently publish Team17's Worms3D.