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Being a comic book fan in the 80s I grew up thinking there was no problem that couldn't be solved by golden flaky crust or delicious cream filling. Apparently that doesn't apply to financial insolvency, as snack cake maker Hostess Brands files for Chapter 11 bankruptcy for the second time. More »
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Game Crazy went belly-up earlier this year, removing one more retail alternative to GameStop from American shopping centers and malls. The sell-off of its remaining stock is on hold while two liquidators battle over who's bidding the most for it. More »
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Formerly a household name in video games, the bankrupted publisher will end up paying creditors between 16 and 25 percent of what they were owed, under a plan approved by a Delaware judge on Friday. More »
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Game Crazy, which shuttered numerous locations earlier this year under its parent company's bankruptcy reorganization, will now liquidate and then close all remaining stores beginning in two weeks, according to the store director of one in Oregon. More »
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Cheyenne Mountain Entertainment started reading Chapter 11 last month, and now a court-appointed official has taken control of the company's assets, which includes Stargate Resistance. The game has been sold off and will continue to be supported. More »
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Stargate Resistance couldn't ride to the rescue soon enough to save Cheyenne Mountain Entertainment, which announced yesterday over its forums that it has sought Chapter 11 bankruptcy protection. The company promises full continued support for the game, which released Feb. 10. More »
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A federal judge reluctantly threw out a creditor claim against the former board of Midway, which alleged that the debt-saddled company pursued loans it couldn't pay and arranged a sale that screwed company stakeholders while enriching a well-connected few. More »
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As part of parent company Movie Gallery, Inc.'s Chapter 11 bankruptcy reorganization, video game retailer Game Crazy stores are dropping like flies, with only 250 stores remaining open in the U.S. once the smoke clears. More »
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Lawrence Kasanoff, the producer behind the Mortal Kombat movies, television show, and animated series has filed suit against Midway in U.S. Bankruptcy Court in order to make sure he retains series milking rights. More »
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Former employees of the recently shuttered Factor 5 studio in California are taking the company to court, claiming that it fraudulently transferred assets, including source code for the next Rogue Squadron title. More »
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Developer Ascaron Entertainment has filed for bankruptcy protection in its home country, Germany. More »
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Mortal Kombat publisher Midway caught some heat from its creditors and a government-appointed trustee over some questionable bonuses attached to the sale of its properties and a publishing agreement with Wheelman co-publisher Ubisoft. More »
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The U.S. Bankruptcy Court has subpeonead multimedia mogul Sumner Redstone and his daughter Shari in order to investigate the strange circumstance behind his $100k sale of Midway Games to Mark Thomas. More »
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The long-struggling publisher of Mortal Kombat filed for bankruptcy this morning, calling it a difficult but necessary decision. More »
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GameDaily BIZ cites an unnamed industry source that Brighter Minds Media, publisher of the acclaimed World of Goo, has filed for Chapter 11 bankruptcy protection. More »
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After closing 155 stores and filing for bankruptcy last year, the nation's second largest electronics retailer Circuit City is now planning to liquidate its remaining 567 U.S. stores. More »
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World of Warcraft players can now make those late night trips to the Circle K for raid munchies work for them in more than just the traditional seat-padding sense. In conjunction with Blizzard, the First National Bank of Omaha is now offering the World of Warcraft Rewards Visa, which offers players the chance to earn game time for every dollar of debt they accrue! At a rate of a penny for every dollar spent, that's only $1,495 you'd have to spend to earn a free month. Since credit cards aren't real money, it's like getting game time for nothing! More »
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Holy shit! More »
]]> http://kotaku.com/index.php?op=postcommentfeed&postId=209729&view=rss&microfeed=true The last of Acclaim's assets are going up for auction in the wake of the publisher's bankruptcy, including the rights to such classic titles as Fur Fighters and Iggy's Reckin' Balls. Oddly enough, Acclaim itself has already been resurrected, after a fashion, by the purchase of the name by investors who have already started producing titles under the banner. Corporate law is weird. More »
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