Maximum Entertainment, the publisher behind games like Maximum Football and Squirrel With A Gun, has let go of the entirety of its United States (US)-based staff.
In a meeting on June 24, the company notified its employees that their roles would be terminated as of July 1.
Maximum Defaulted On Loans
Back on April 20, Cathay Bank announced its plans to begin exercising its rights against Maximum Entertainment, LLC—the US wing of Maximum Entertainment AB—after the company defaulted on its loans. According to the bank, the loan agreement includes an $8 million revolving line of credit and two $3 million term loans.
Maximum Entertainment attempted to negotiate with Cathay Bank, but failed to reach an agreement.
Following the notice and failure to negotiate a settlement, Maximum Entertainment held a meeting on June 24. That is when employees were notified that the US wing of the company would be shut down, and everyone would be let go as of July 1.
And though many layoffs like this usually include some sort of transition assistance, this did not. According to those who were let go, there was zero severance pay offered nor any extended healthcare options. The 25-plus people who were losing their jobs were left with nothing.
Said one former staff member, “We had to suffer for poor financial decisions by our leadership. We didn’t default on loans, but here we are paying for their f*** ups.”
Maximum Entertainment did not respond to requests for comment prior to publication.
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Mike has been covering the gaming industry since 2012, and has reported on some of the largest events in the industry while also working as an investigative reporter. Outside of…
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