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Closing Down Rage

16th January 2003, 4:38pm
Liverpool based software developers Rage Software today announced that they will be closing down the company due to a 10 million pound loss last year.

Makers of the David Beckham Soccer, Rocky, and upcoming titles like Andy McNab: Team SAS and Lamborghini of which these two were Xbox LIVE titles, and now the future or these games are unknown. Rage have had to let go of 77 employees, And the other 85 staff members futures rely on the sale of game rights that are currently in development.

A spokesperson of Receiver’s Ernst and Young, said: "Rage has invested heavily in developing new games, but various delays have meant that they have not produced sufficient products to cover the levels of cost and infrastructure being incurred.

"The current financial circumstances of the company and insufficient income revenues have meant that we have had to make 74 redundancies with immediate effect.

"However, the company has got some exciting new games in progress, including exclusive licenses with Lamborghini, Andy McNab and a follow-up to the successful Rocky game."

With some of these games being on the Xbox LIVE stream of games, receivers shouldn’t have much trouble in selling such titles as Lamborghini to potential buyers.

by Michael Singe