The publisher which has been in financial turmoil for the past few years is now having problems finding a commercial banking facility. They have a letter of intent to borrow $30 Million, and their current arraingement with GMAC Commercial Finance will expire on 8/4/04.
An Acclaim spokesperson is quoted as saying, "Failure to obtain a new banking facility would materially adversely affect the company's operations and liquidity, and the company could be forced to cease operations or seek bankruptcy protection"
Read more at CNN.Com
An Acclaim spokesperson is quoted as saying, "Failure to obtain a new banking facility would materially adversely affect the company's operations and liquidity, and the company could be forced to cease operations or seek bankruptcy protection"
Read more at CNN.Com