Acclaim Closes Offices

Bankruptcy almost certain as several studios close and employees told to go home.

Following Monday's announcement of a waning loan extension and a possible bankruptcy filing, IGN has learned that Acclaim Entertainment has closed all of its offices today -- in Austin, Texas, Manchester, UK, and now, we've just learned, its headquarters in Glen Cove, New York as well. This morning IGN placed three phone calls to its New York headquarters, none were answered nor returned.

Contrary to other reports, however, there is no evidence of employees being fired or let go, according to several online sources. Although now that all three offices are closed, the next step is almost assuredly bankrupcty.

"Acclaim has not nine, but 25 lives," said John Taylor, a videogame analyst of Arcadia Investment Corp. of Portland, Oregon whose been covering the industry and Acclaim in particular since 1998. "But each time we go through this (critical financial point) it gets more challenging for them to re-establish themselves. Turok: Evolution was the most critical blow for the company financially. That really took the wind out of them. They've been heading south ever since."

News source: ign.com

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