10°
Submitted by Cyrus365 2344d ago | news

Midway "haemorrhaging cash at an alarming rate"

GI.Biz writes: "Struggling publisher Midway is expected to use up 75 per cent of its cash reserves by May this year - over USD 12.4 million.

That's according to documents filed by the company's new owner AHS, which has stated that the Mortal Kombat company is "haemorrhaging" cash as it claws its way through bankruptcy.

"It is beyond dispute that the debtors [Midway] have an immediate need to access and use AHS's cash collateral. Nor can it be disputed that, based upon the debtors' 13 week forecasted budget, the debtors are haemorrhaging cash at an alarming rate." (Industry)

Add comment

You need to be registered to add comments. Register here or login
Remember
New stories
30°

I Locked Glitch Games’ Simon Pearce and Graham Ranson In a Room to Discuss “Forever Lost”

21m ago - Appunwrapper writes: "I started a new series recently here on AppUnwrapper, where I interviewed S... | iPhone
40°

Worms WMD coming in for a landing early 2016

1h ago - Gameplay trailer from Gamescom shows Team17's new strategy game - and its new additions - in action. | PC
Ad

Win a Pro-Painted Ghorgon!

Now - Turbo Tape Games is pleased to announce a contest for an exclusive Ghorgon miniature hand-painted by Dave Taylor! | Promoted post
40°

How Could Mass Effect Be Adapted Into A Movie?

2h ago - Overmental: Bioware struck gold with the Mass Effect series, delivering a setting and characters... | Culture
40°

Camelot Unchained: Reached Stretch Goal, Introduced 'Stealth Unchained'

2h ago - After smashing through their last stretch goal, Camelot Unchained add a new one. | PC
40°

Steam Weeklong Deals has 141 Steam Games on Discount

2h ago - SteamFirst: Steam Weeklong Deals makes its Monday return with 141 discounted Steam games! Pick... | PC