Feeds

Harry Potter games outfit loses its magic

Argonaut calls in administrators

  • alert
  • submit to reddit

Designing a Defense for Mobile Applications

Argonaut Games plc - the UK games developer which brought Harry Potter to the video screen - has called in the administrators ten days after suspending its shares.

David Rubin and Asher Miller were appointed joint administrators of three of Argonaut's trading subsidiaries - Argonaut Software Limited, Just Add Monsters Limited and Morpheme Limited - late on Friday. Argonaut Games plc itself has not been placed into administration. The administrators said the companies will continue to trade while they find a buyer and remain confident that they can flog the business.

"Interest has already been expressed and the administrators are confident that an early sale can be finalised. An early sale is always desirable in this sector to minimise any disruption to ongoing games development, to the staff and to the customers," said Mr Miller in a stock exchange statement. It was also disclosed that chief exec, Jeremy San and fellow board member, Aaron San, have both resigned.

Last week Argonaut closed its Sheffield office with the loss of some 100 jobs. The company currently employs around 120 people. On 15 October shares in Argonaut were "temporarily suspended...pending clarification of the company's financial position". In August Argonaut warned that it expected to increase losses for the year to £6m describing them as "below market expectations". ®

Related stories

Australia bans Manhunt
Blair reveals some games 'unsuitable' for kids
Eidos plunges into red

The smart choice: opportunity from uncertainty

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Airbus promises Wi-Fi – yay – and 3D movies (meh) in new A330
If the person in front reclines their seat, this could get interesting
UK Parliament rubber-stamps EMERGENCY data grab 'n' keep bill
Just 49 MPs oppose Drip's rushed timetable
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
US freemium mobile network eyes up Europe
FreedomPop touts 'free' calls, texts and data
prev story

Whitepapers

Reducing security risks from open source software
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Application security programs and practises
Follow a few strategies and your organization can gain the full benefits of open source and the cloud without compromising the security of your applications.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.