SEGA Gameworks Begins Liquidation Process

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Reuters is reporting that the SEGA Entertainment is liquidating the various Gameworks locations around the USA.

However, it is rather muddled because earlier this month, Arcade Heroes posted that 8 out of the 15 locations would remain open while only 7 were closed – we reported about that here. However, Reuters is reporting:

“Sega Entertainment, which runs about 15 arcade-restaurants, ceased operations on March 30, and has begun liquidating under a ‘general assignment for the benefit of creditors’ proceeding in California, according to an April 22 letter to the company’s creditors. Some stores have been sold and some stores will close,’ Richard Kipperman, president of Corporate Management Inc who was hired to run the liquidation, said in a telephone interview on Tuesday.”

However, what is unclear is if the entire chain of arcade-restaurants will be sold and closed or just the 7 that were previously announced. If all the sites are being liquidated, I’m pretty sad that I never made it across the border in time to check out the service – if I have time, you might see some posts from the road!

[Source: Reuters via SEGABits]

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