Sir Whiskers
First Post
Just a quick update from www.avault.com:
Interplay Entertainment reopened for business Tuesday after being shut down last week for not complying with California state labor laws. Chief executive Herve Caen said the Irvine-based computer game developer has reinstated its workers compensation insurance - the key reason the state barred Interplay's 79 employees from working. But Interplay still has a rough road ahead. The Orange County Register says the company is nearly out of cash and hasn't paid employees for weeks. It also owes nearly 180 thousand dollars in payroll taxes and penalties. The company must also vacate its headquarters on Von Karman Avenue by June 15 according to an agreement with its landlord (which sued Interplay for not paying rent since January). And Interplay's majority owner - Titus Interactive in France - filed for bankruptcy on Monday. Caen said Interplay is counting on finding new funding through investment bank SG Capital.
Interplay Entertainment reopened for business Tuesday after being shut down last week for not complying with California state labor laws. Chief executive Herve Caen said the Irvine-based computer game developer has reinstated its workers compensation insurance - the key reason the state barred Interplay's 79 employees from working. But Interplay still has a rough road ahead. The Orange County Register says the company is nearly out of cash and hasn't paid employees for weeks. It also owes nearly 180 thousand dollars in payroll taxes and penalties. The company must also vacate its headquarters on Von Karman Avenue by June 15 according to an agreement with its landlord (which sued Interplay for not paying rent since January). And Interplay's majority owner - Titus Interactive in France - filed for bankruptcy on Monday. Caen said Interplay is counting on finding new funding through investment bank SG Capital.