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May 20th, 2008 by Arjan Olsder Posted in Companies & M&A | 7 Comments »
Though in our previous stories, we mentioned that there was a chance of a management buyout for Telcogames, PocketGamer revealed that the management has already started up a brand new company a few days before Telcogames went into administration.
Telcogames
Disclaimer:Arjan Olsder is the Vice President of Pixalon Studios. Opinions expressed on this publication do not have to represent those of Pixalon Studios. |
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Absolute disgrace, this has obviously been planned to rid the company of its huge debts and rob the providers of millions of pounds in revenues. Any companies that decide to work with this new Phoenix should be ashamed, especially carriers, how could they possibly support this ‘new’ company (with the same personnel) after they’ve possibly ruined many a games developer. Phoenix Distribution would have been more apt.
Clearly a huge scandal for the UK to even allow this! Operators will probably even support them as they delivered their games cheap. No company should work with or even hire these guys!
What a huge scandal of the mobile entertainment sector and more shame on all the operators and portals which pushed developers into the hand of Telcogames. And most of those person in charges knew what was happening! Perhaps they received some payments/presents for pushing the developers to telcogames. Its the biggest scandal and I doubt that this Phoenix will fly! Shame on the operators! They really want to kill the industry!
Did i miss the creditors meeting by the way? Thought all companies in administration had to have one before a decision could be made???
http://www.sfo.gov.uk/contact.asp
The entire subject has now a shambling disgraceful example to the rest mobile games industry – Poor show indeed by the looks of things.
Hear, hear! I was a minor shareholder in Telcogames through their acquisition of Viva La Mobile. A huge debt gotten rid of and all IP, etc retained by management.