Feeds

Harry Potter games outfit loses its magic

Argonaut calls in administrators

  • alert
  • submit to reddit

Intelligent flash storage arrays

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

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
'Cowardly, venomous trolls' threatened with TWO-YEAR sentences for menacing posts
UK government: 'Taking a stand against a baying cyber-mob'
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.