Sunday, December 14, 2008
Ubisoft could loss millions with companys going bust
Woolworth are the third, large retailer, to go bust which could cost Ubisoft 1.5 million euros in unpaid bills.
Ubisoft recently suffered as a German and French default cost them about 300,000 euros.
Just days before the Woolworths collapse the company had paid Ubisoft 5.7 million euros.
Microsoft, Sony and Nintendo are also likely to suffer with this collapse.
On Friday another giant UK retailer 'Zavvi' went bust but it is believed that the Virgin group had guaranteed all debts on Zavvi - this guarantee was due to expire in the next few days... Zavvi are understood to own Woolworths £106 million.
HMV posted a loss of over £19 million for the last six months despite sales rising over 3%.
The company has moving into the second hand games market in the UK and Ireland.
It remains to be declared what exposure EA has to these events.