By Quinton Miles
After an announcement on Monday of a late loan extension and rumors of bankruptcy, Acclaim Entertainment has closed its offices in Austin, Texas, and Manchester UK.
As of this afternoon, there haven’t been any reports of employees being let go or fired, according to online sources.
The game publisher went public with its intent to extend a loan from primary lender GMAC Commerical Finance on Monday. Since the loan had expired, Acclaim warned that if negotiations fell through, bankruptcy would be considered.
GMAC has decided to wait on the result of the loan negotiations before collecting, and Acclaim reported that it is in the works to negotiate a proposed $65 million loan with an undisclosed new lender.
There is no new news on these talks.
The financial problems of Acclaim are deep, and will affect many areas of their operation. Located in Glen Cove, NY, the company is also being sued by Battleborne Entertainment, the team behind [i]Combat Elite: WWII Paratroopers[/i]. In July, a ruling by the Supreme Court of the State of New York halted release of the game since the publisher had not made the required payments to to the developer. It also claims the publisher allegedly threated to bring the game out before payments were completed.
MyGamer will have more on this story as it breaks.