Acclaim goes Chapter 7
Poster: Aron Schatz
Posted on September 3, 2004 at 4:53:39 PM
That's right, Acclaim has filed for Chapter 7 protection bankruptcy. The entire story is at Yahoo. Acclaim recently put out some loser titles and it looks like this time they are down for good.
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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. Acclaim is the second well-known company in the business to go bankrupt in recent times, after 3DO Co. in 2003. It was not immediately clear what would happen to Acclaim's properties, including upcoming games like "100 Bullets" as well as new entries in the "Worms" franchise.