Video games distributor Pinnacle Software and parent Pinnacle Entertainment have today lapsed into administration, MCV has learnt.
The company’s bosses were told the news this morning, and are currently in emergency meetings.
After being set up by MD Peter Sleeman back in 1992, Pinnacle Software went on to create the concept of ‘exclusive distribution’ – which soon became an industry standard.
Over the last 16 years, the firm has partnered with the biggest companies in games – and become one of the best-known names amongst the trade.
However, in recent years the Sidcup, Kent-based business has lost key distribution accounts, including EA to Centresoft and Ubisoft to Trilogy.
This year, the company trialled a co-publishing model with developers – which saw it box, market and distribute products for studios. These included the first football management game on DS, Football Director.
Pinnacle Entertainment – which services the DVD and music industries – is also thought to be in administration.