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Acclaim goes belly up

Loses Mortal Kombat
Fri Sep 03 2004, 08:33
GAMES MAKER Acclaim has filed for bankruptcy after failing to line up new financing.

One of the oldest games makers in the business, Acclaim were responsible for names like Mortal Kombat and Turok.

However some of the most bizarre marketing gimmicks, such as getting people to officially change their name to Turok, failed to capture the interest of punters. Even putting named women in BMX XXX didn't seem to help much, particularly when it tried to flog such Lemons as Turok: Evolution.

According to its annual report the company's assets totaled $47.3 million with liabilities of $145.3 million as of July 1.

Friedman said at least one creditor was owed more than $20 million but he did not know the name of that person or entity.

According to Reuters there is no indication what will happen to Acclaim's substantial back catalogue and work in progress. Some of its games such as Juiced and Red Star are probably worth a pretty penny. µ

 

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