Matt Martin
12:45 (BST)
14/01/2008
Related articles
Shareholders want SCi boss out - report
Pressure mounts on Cavanagh following no sale
Pressure is mounting on SCi Entertainment boss Jane Cavanagh to step down after last week's revelation that the company is no longer in sale talks.
A report by The Times Online states that investors have labelled Cavanagh's position as "untenable" whilst also demanding the resignation of commercial director Bill Ennis and chairman Tim Ryan.
The report also claims that SCi has been forced to borrow GBP 30 million to stay afloat to the end of the year, after annoucing that it would be delaying numerous titles, including the latest in its flagship Tomb Raider franchise.
Shares in the UK publisher tanked last week to an eighteen-year low of 62p.
"It seems likely the company will run out of cash by May or June," said an analyst to The Times. "Since it is now delaying the release of its new games, it will need ths extra cash just to keep the lights on."
SCi Entertainment had not responded to request for comment at the time of writing.
To comment on this article, or view other users comments, you need to register for the GamesIndustry.biz Network.
