When you purchase through links on our site, we may earn an affiliate commission. Here’s how it works.

Acclaim officers prep to file bankruptcy docs today

Company will seek to liquidate assets and pay off as many debts as possible; public announcement to follow as early as tomorrow.

Reliable sources close to the executive management team of Acclaim Entertainment say the company will file Chapter 7 bankruptcy documents late today. The company will alert the industry, the press, and its creditors via an announcement that could come as early as tomorrow.

Acclaim has already terminated more than 600 employees worldwide. Those employees, according to one high-ranking executive, were given no severance pay or package, no continuation of benefits, and no right, even, to continue their own benefits through the federally mandated program commonly referred to as COBRA.

News source: GameSpot

Report a problem with article
Next Article

Nintendo drops GBA SP to $79.99 in America; Euro cut may fol

Previous Article

Harvest Moon: Oh! Wonderful Life Coming for PS2

Join the conversation!

Login or Sign Up to read and post a comment.

-1 Comments - Add comment