Acclaim Files For Chapter 7 Bankruptcy - Final Chapter Closes

End of an era for long-standing publishers

Posted by Staff
Acclaim Files For Chapter 7 Bankruptcy - Final Chapter Closes
As suspected, Acclaim has filed for bankruptcy today. However, the outlook seems even bleaker now than it did last Friday. Rather than opting for the Chapter 11 clause – which could have left some room for manoeuvre (albeit quite small), it has filed for Chapter 7. This means it will have to sell off all its assets and then shut down the business. It’s all fairly final.

With over $100 million in outstanding debts, and with less than $50 million in assets: and no more backing from financial institutions, this spells the end for Acclaim. There have, however, been no announcements as to the future of Acclaim’s finished games that are resting in the pipeline i.e. Juiced and Red Star. These would obviously be considered as assets and will likely be sold off to an alternative publisher.

It’s a sad day when such a long-standing publisher is forced into closure, providing yet more proof that this is an intensely competitive industry. We can only hope that others learn from these mistakes, and that Acclaim’s employees find suitable roles elsewhere.


nickeedoo 2 Sep 2004 12:23
It's just absolutely shocking when a company you've known for pretty much you're whole gaming life goes under. Well, best of luck for the future to all at Acclaim.
Joji 2 Sep 2004 13:55
I second that. This is the sad side of the industry that is never talked about, and should be getting news coverage, but doesn't. The problem is not gonna change if people know nothing of it.

Goodbye Acclaim and thanks for MD Alien 3 and Turok 1 and 2, amongst other memories. Hopefully, some good will be born from your death. RIP.
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Ditto 2 Sep 2004 13:58
Yeah, good luck to everyone at Acclaim.
taza 2 Sep 2004 15:43
i call the domino theory:
Vietnam... i mean Acclaim will be ruined and sone others will follow
THQ, Ubisoft all will sone be control by the Americans! i mean EA!

they should have kept da big licenses like WWE and burnout.. aw well bad luck

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