thebiggameover
Aug 30th, 2004, 09:21 PM
http://www.gameinformer.com/News/Story/200408/N04.0830.1544.25431.htm
The Acclaim Nightmare
8/30/2004 3:46 PM
While no official statement has been released, we’ve received numerous reports from Acclaim employees across the globe that wish to remain anonymous that all Acclaim offices have closed their doors for good. This includes studios based in Manchester, Cheltenham, Austin, and the headquarters in New York. Acclaim is expected to file for Chapter 11 protection or bankruptcy at any moment.
Last week Acclaim was delisted from the NASDAQ Small Cap stock exchange, due to the fact that they did not meet the minimum market capitalization figure that is required to be listed.
What our sources indicated was at one office around 12-noon on Friday, there was a meeting in which employees were told that the offices would be closing by 1pm.
We’ve learned at the Austin, Texas studio, the real last day of work was on August 23rd. On the 24th the doors to the office were locked due to the building management not paying rent for several months. Employees at the Austin studio have yet to be able to pick up their personal belongings from their desks, yet the General Manager at the Austin studio is said to be holding a meeting at the closed studio tomorrow to give employees updates.
While some Acclaim employees worked on faith that they would be paid, the last actual paycheck that some of the studios employees received was on August 17th. Acclaim employees will not be receiving any severance pay, nor will they receive pay for unused vacation time. Whether or not employees will be reimbursed after the creditors take what’s owed to them is unknown.
What’s also unnerving is the fact that most of the employees were apparently left in the dark about what was going on. One source told us, “we learned about what was happening with our company through videogame websites and forums.”
Game titles like The Red Star and Juiced have unknown futures, even though both of these titles are complete. Juiced was supposed to be available in stores in the first week of September.
We have tried to contact people at Acclaim, but have not received a reply at press time. We’ll have more on the status of the company, and the games as soon as it’s made available.
-Billy Berghammer
shitty...
:(
The Acclaim Nightmare
8/30/2004 3:46 PM
While no official statement has been released, we’ve received numerous reports from Acclaim employees across the globe that wish to remain anonymous that all Acclaim offices have closed their doors for good. This includes studios based in Manchester, Cheltenham, Austin, and the headquarters in New York. Acclaim is expected to file for Chapter 11 protection or bankruptcy at any moment.
Last week Acclaim was delisted from the NASDAQ Small Cap stock exchange, due to the fact that they did not meet the minimum market capitalization figure that is required to be listed.
What our sources indicated was at one office around 12-noon on Friday, there was a meeting in which employees were told that the offices would be closing by 1pm.
We’ve learned at the Austin, Texas studio, the real last day of work was on August 23rd. On the 24th the doors to the office were locked due to the building management not paying rent for several months. Employees at the Austin studio have yet to be able to pick up their personal belongings from their desks, yet the General Manager at the Austin studio is said to be holding a meeting at the closed studio tomorrow to give employees updates.
While some Acclaim employees worked on faith that they would be paid, the last actual paycheck that some of the studios employees received was on August 17th. Acclaim employees will not be receiving any severance pay, nor will they receive pay for unused vacation time. Whether or not employees will be reimbursed after the creditors take what’s owed to them is unknown.
What’s also unnerving is the fact that most of the employees were apparently left in the dark about what was going on. One source told us, “we learned about what was happening with our company through videogame websites and forums.”
Game titles like The Red Star and Juiced have unknown futures, even though both of these titles are complete. Juiced was supposed to be available in stores in the first week of September.
We have tried to contact people at Acclaim, but have not received a reply at press time. We’ll have more on the status of the company, and the games as soon as it’s made available.
-Billy Berghammer
shitty...
:(