06/04/2015 10:45 EDT | Updated 06/04/2016 05:59 EDT

Cape Breton-based gaming tech firm to get no financial help:minister

HALIFAX - Nova Scotia Business Minister Mark Furey says the province will not be offering a financial lifeline for a Cape-Breton-based gaming technology company.

Techlink Entertainment announced Monday that it will close and lay off its staff.

Furey says while he knows there are discussions about some sort of bridge-funding between the company's owner and the Nova Scotia Gaming Corporation, the government has no interest in helping.

He says his new department is making it clear that it is in no position to write cheques to bail out businesses.

Crown agency Nova Scotia Business Inc. has authorized $13 million in equity investments and loans to the Sydney, N.S., firm since 2004, though not all of the funds have been disbursed.

A spokeswoman said the agency currently has $8 million invested in equity and debt in Techlink.