Wed, 18 Aug 2010 | BUSINESS SALE
Dundee-based video games company, Realtime Worlds, has fallen into administration following 'overwhelming financial pressure,' and is hoping to sell the company as a going concern.
The company was founded in 2002 by Grand-Theft Auto and Lemmings creator Dave Jones. The senior managers were forced to call in the adminstrators after tax breaks promised to the UK games industry were scrapped in the coalition government’s emergency Budget.
Edinburgh-based Begbies Traynor administrators have been appointed and a consultation process on the future of the firm is under way. Begbies Traynor announced that their intention is to 'continue trading the company while we attempt to find a going-concern buyer which will safeguard the future of the business.'
Sixty of the 200 staff at the company's west Marketgait headquarters have already been made redundant and more jobs are said to be at risk.
Dundee City Council administration leader Ken Guild said, “They and the company have been put in this position by the couldn't-care-less attitude of the Westminster Government whose point-blank refusal to create a level playing field for the computer games industry in the UK, focused on Dundee, has brought about this situation.”
Dundee East MP Stewart Hosie talked of what a sad day it was for Dundee as the area saw its biggest computer games company go into administration.
This well-established business in Suffolk is renowned for providing bespoke hydraulic, electric, and mechanical systems across various industries, with end-to-end solutions and a strong reputation for quality and reliability.
This well-established Buckinghamshire-based wholesale catering supplier offers a diverse range of fresh produce, dairy, and catering essentials to sectors such as hospitality and healthcare.
This well-established Essex-based business offers a comprehensive suite of bespoke luxury furniture services, from design to installation, catering primarily to private clients and developers.
|
04
|
|
Jul
|
East Midlands furniture manufacturer ceases trading | ADMINISTRATION
Andrew Paul Furniture Limited, a major furniture manufacture...
|
04
|
|
Jul
|
Yorkshire law company Ison Harrison merges with Skipton firm | MERGER
Ison Harrison, an employee owned law firm based in Yorkshire...
|
04
|
|
Jul
|
£37m-turnover pet food firm falls into administration | ADMINISTRATION
Kennelpak Limited, a private equity-backed pet products comp...
|
04
|
|
Jul
|
Government reverse-turns on small business filing requirement rules | BUSINESS NEWS
Ministers are set to shelve reforms to Companies House filin...
|
04
|
|
Jul
|
Knights Pharmacy acquires new sites in HSBC-backed deal | BUSINESS SALE
West Midlands-based pharmacy group Knights Pharmacy has furt...
|
04
|
|
Jul
|
£37m-turnover pet food firm falls into administration | ADMINISTRATION
Kennelpak Limited, a private equity-backed pet products comp...
Business Sale Report is the complete resource for finding genuine acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.