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British video games retailer GAME has lost a legal case filed by its landlords, and has been ordered to pay £3 million in rent fees accrued during its administration (bankruptcy equivalent) period in 2012, Retail Week reports. GAME's landlords banded together last year in an attempt to recou...

February 24th 2014 at 12:30pm 0 Comments
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Atari's Chapter 11 (reorganization) bankruptcy, announced in January and followed by auctions of its assets, is coming to its phoenix conclusion. The Wall Street Journal reports Atari has received court approval for its plan to rise from bankruptcy. The plan involves paying back the $3.8 million...

December 7th 2013 at 3:15pm 0 Comments
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Blockbuster UK is likely to follow in the footsteps of the recently defunct US arm, after administrators announced 62 further store closures, with 427 employees laid off as a result. The DVD and game rental chain entered administration (a.k.a. bankruptcy) again earlier this year, and insolvency spe...

December 5th 2013 at 9:00am 0 Comments
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OCZ's memory technology won't fade into obscurity after all -- Toshiba has agreed to buy the ailing company's assets for $35 million through a bankruptcy auction. As long as the bid wins, Toshiba expects to acquire OCZ's solid-state drive businesses in January. The deal also supplies the financing...

December 3rd 2013 at 1:34pm 0 Comments
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Rune Factory and Lufia series developer Neverland Co. has ceased operations and will file for bankruptcy soon, the studio revealed on its website. Siliconera reports that Neverland's statement cites recent "changes in the business environment" as one of the studio's difficulties. Attempts to secur...

November 30th 2013 at 4:30pm 0 Comments
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OCZ dropped off the radar shortly into 2013 as it struggled to correct dodgy accounting and stem ongoing losses. Unfortunately, it couldn't turn things around quickly enough -- the one-time legend in memory technology has declared bankruptcy. That isn't necessarily the end of the story, though....

November 27th 2013 at 5:01pm 0 Comments
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Blockbuster UK faces 452 layoffs and 72 store closures, after company administrators announced "necessary" measures for the once-again bankrupt retail chain. Moorfield Corporate Recovery, the company tasked with finding another buyer for the struggling outlet, said it wasn't an easy decision to mak...

November 18th 2013 at 11:30am 0 Comments
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A planned intellectual property auction for shuttered Kingdoms of Amalur: Reckoning developer 38 Studios has been pushed back a month and is now set to commence in December, GameSpot reports. A specific date for the auction is not yet known. 38 Studios' court-appointed lawyer Richard Land previous...

November 11th 2013 at 2:00pm 0 Comments
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When companies die, their assets are sold to make back whatever money can be recovered. That's normal. But you wouldn't expect a great deal of interest in the intellectual property of a company that had worked on only two games and actually released just one of them. Apparently that expectation wou...

November 6th 2013 at 4:00pm 0 Comments