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25th October 2004:
Potter powerless
Not even the wizardly might of Harry Potter seems able to save developer Argonaut.
Posted by Chris Snook - Xbox,GameCube,PlayStation 2,PC - UK and Europe

The BBC has reported that Argonaut Games, one of the UK's leading developers and one of the teams behind the first two PlayStation Harry Potter games has been put up for sale.

In existence for eighteen years, Argonaut declared ten days ago that it was low on resources, following suspension of its shares. Problems caused by a lack of steady cash flow, despite the enormous success of the first two PlayStation HP games. Unfortunately due to delays in making deals with publishers for games in production, things began to become tight with the first inkling appearing last August with a profit warning.

Now that has resulted in there being over a third of jobs lost - some of which amongst the development teams and the receivers brought in.

The future looked bright for Argonaut with their new toolchain and development system 'Myriad', which had been specifically designed to deliver highly populated environments for PC and consoles - as can be seen in the screens below.

More news as we get.

Chris Snook

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