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Games maker fights for survival

Tom Warren Neowin @tomwarren · Oct 25, 2004 15:56 EDT with -1 comments

Thanks to a|KK|y for the heads up

One of Britain's largest independent game makers, Argonaut Games, has been put up for sale.

The London-based company behind the Harry Potter games has sacked about 100 employees due to a severe cash crisis. The administrators told BBC News Online that selling Argonaut was the only way to save it as it had run out of cash.

Argonaut warned that it was low on cash 10 days ago when its shares were suspended from trading on the London Stock Exchange. Argonaut has been making games for some 18 years and is one the largest independent games developers in the UK. Along with its headquarters in north London, it operates studios in Cambridge and Sheffield.

Argonaut was behind the Harry Potter games which provided a healthy flow of cash into the company.

View: Games maker fights for survival