1984
Imagine Software is wound up
Liverpool software house Imagine Software is wound up by the High Court in London following the company's spectacular financial collapse.
Imagine had risen rapidly after its formation in 1982, becoming one of Britain's best-known software companies with successful ZX Spectrum titles including Arcadia, Zzoom, Stonkers, Alchemist and Wacky Waiters.
By 1984, however, the company was in serious financial difficulty. On 28 June, VNU Business Press obtained a writ over money owed for advertising in Personal Computer Games. Imagine was unable to find the £10,000 required to satisfy the debt.
On Monday 9 July 1984, the winding-up petition went unopposed at the High Court of Justice in London. Imagine was finished, with its debts eventually reported to be more than £300,000.
The collapse was filmed by a BBC documentary crew that had been following the company. The resulting programme, Commercial Breaks, became one of the most famous records of the early British computer-games industry's spectacular boom and bust.
The company's back catalogue was subsequently acquired by Beau Jolly, while the Imagine name was acquired by Ocean Software, which later used it as a publishing label.
Imagine had risen rapidly after its formation in 1982, becoming one of Britain's best-known software companies with successful ZX Spectrum titles including Arcadia, Zzoom, Stonkers, Alchemist and Wacky Waiters.
By 1984, however, the company was in serious financial difficulty. On 28 June, VNU Business Press obtained a writ over money owed for advertising in Personal Computer Games. Imagine was unable to find the £10,000 required to satisfy the debt.
On Monday 9 July 1984, the winding-up petition went unopposed at the High Court of Justice in London. Imagine was finished, with its debts eventually reported to be more than £300,000.
The collapse was filmed by a BBC documentary crew that had been following the company. The resulting programme, Commercial Breaks, became one of the most famous records of the early British computer-games industry's spectacular boom and bust.
The company's back catalogue was subsequently acquired by Beau Jolly, while the Imagine name was acquired by Ocean Software, which later used it as a publishing label.