UK developer Rage has financial problems

Huge losses for the UK-based developer spell trouble as the FSA steps in

Share dealing in UK developer Rage Software has been suspended by the Financial Services Authority. This position will remain "pending clarification of the company's financial position," according to a statement issued to the city. Rage Plc shares today fell to 0.33p.

The developer of next-gen titles such as Crash and Twin Calibur posted losses of over 16 million last year, but Rage hoped that well-received Xbox-brawler Rocky, plus several other big projects on the horizon, would improve its fortunes over the coming year.

A spokesperson for Rage was unavailable at the time of writing, but a full statement is expected shortly.

News source: Computer and Video Games

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