Lord_of_the_Dense
09-02-2004, 08:04 PM
NEW YORK (Reuters) - Video game publisher Acclaim Entertainment Inc., which has been hampered by a lack of hit titles, filed for bankruptcy liquidation on Thursday after failing to line up new financing.
Acclaim, one of the oldest brands in the industry, has been known as much for failures like "Turok: Evolution" and controversial titles like "BMX XXX" as it has for its successes in the highly competitive industry.
The company, which filed for bankruptcy to liquidate its assets under Chapter 7 of U.S. Bankruptcy Code, has also faced lawsuits from some of its top licensees, including ones from teen superstars Mary-Kate and Ashley Olsen and biking legend Dave Mirra.
Read entire story here (http://story.news.yahoo.com/news?tmpl=story&cid=569&e=1&u=/nm/20040902/tc_nm/leisure_acclaim_dc).
Acclaim, one of the oldest brands in the industry, has been known as much for failures like "Turok: Evolution" and controversial titles like "BMX XXX" as it has for its successes in the highly competitive industry.
The company, which filed for bankruptcy to liquidate its assets under Chapter 7 of U.S. Bankruptcy Code, has also faced lawsuits from some of its top licensees, including ones from teen superstars Mary-Kate and Ashley Olsen and biking legend Dave Mirra.
Read entire story here (http://story.news.yahoo.com/news?tmpl=story&cid=569&e=1&u=/nm/20040902/tc_nm/leisure_acclaim_dc).