Receivers called in at Rage

Rage against the dying light

By gamesindustry.biz • Get more from this author

Posted in Business, 15th January 2003 14:04 GMT

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Following the closure of its credit line yesterday and the suspension of its shares on the London Stock Exchange, embattled British publisher Rage has been in discussion with bank receivers today and a transfer of ownership could take place within the next 24 to 48 hours, according to sources within the company.

However, the board is also said to be considering other options - primarily the possibility of obtaining new banking and financial facilities, but the sale of all or part of the company has apparently not yet been ruled out.

Individual development studios and key products such as Rocky, Lamborghini and Team SAS are all considered to be "on sale", according to our sources - and any serious buy-outs of studios or products at this stage would undoubtedly help to safeguard some of the 150-odd jobs at the publisher.

However, given the speed at which events have moved so far - with all the signs suggesting that the company could be in receivership within two days of its credit line being closed - serious bidders will undoubtedly have to emerge quickly if such a sale is to be on the cards.

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