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Interplay to be homeless?
Company News - posted by Saint_Proverbius on Fri 16 April 2004, 13:39:31Tags: Interplay
GameSpot is reporting a bit about Interplay facing possible eviction from their offices due to kinda not paying the rent. Here's a brief clip:
Besides highlighting the disparity between its cash balance of $1.2 million and working-capital deficit of $14.8 million, the notice also revealed interplay is facing eviction from its Irvine, CA headquarters. The filing states that "As of April 1, 2004, the Company [Interplay] was three months in arrears on the rent obligations for its corporate lease in Irvine, California." During the conference call, Caen revealed the rent for Interplay headquarters is around $150,000 a month, meaning the company currently owes its landlord approximately $450,000--nearly half its cash on hand.
Sounds like someone needs to organize a bake sale.