Acclaim Entertainment, one of the longest-standing video game publishers in the business, has filed for Chapter 7 bankruptcy liquidation. In a U.S. Securities and Exchange Commission filing Thursday, the company said it did so after failing to find new financing. Acclaim's recent hit titles have included the street racing game Juiced and war game Red Star. But it also has had a number of flops like Turok: Evolution and has been sued by licensees including BMX biking star Dave Mirra and Mary-Kate and Ashley Olsen. According to its most recent annual report, Acclaim's assets totaled $47.3 million, and its liabilities were $145.3 million as of July 1.
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