Following weeks of intense speculation, it seems that the end is finally nigh for Acclaim, after the publisher/developer filed for Chapter 7 bankruptcy at the US Bankruptcy Court in Central Islip, New York.
US news sources state that the company behind such treasured classics as Shadowman and Burnout 2 is currently $100 million in debt. Under the Chapter 7 bankruptcy, its company assets (which Acclaim listed as between $10 million to $50 million according to newspaper New York Newsday), will now be dissolved in order to go towards settling these sums.
While the publisher's future is now looking more clear, things seem less certain for some of its games. Juiced - the undoubted pick of the bunch, which ironically, is being developed by the team behind Rage's similarly ill-fated Lamborghini - was set to release for PS2, Xbox and PC later this month.
However, following the latest developments, it's more than likely that the game will now be picked up by another publisher. A source close to the project informed us that: "No decision has yet been made" and won't be "until legal confirmation is sought", but expects there to be progress made in coming weeks.
Other games on the Acclaim roster include the Bard's Tale remake and comicbook shooter The Red Star.
News source: Computer and Videogames