While E3 was spinning around last week, developer 38 Studios was full of doom and gloom. The studio filed for bankruptcy through a court in Delaware, overall claiming for liabilities in the amount of $150.7 million. Their total assets fall just over $21.7 million.
The developer released an official statement on their recent filing, stating:
“This action comes after several weeks when the company has reviewed, considered, and received the recommendations and advice with respect to potential avenues for relief that are currently available. After ongoing negotiations with the State of Rhode Island and potential investors and other interested parties, the company has been unable to find a solution to the current stalemate.”
The studio’s last piece of work was Kingdoms of Amalur: Reckoning, and it generally did well. Though it didn’t hit target sales, the game was still well-received among heavy players. Some games even held it above Skyrim, which released right before it. The developer soon hit a landslide that sent them into a downward spiral that they just couldn’t survive. After failing to pay employees and loans, the studio shut down for good, leaving even executive employees dead in the water. There hasn’t been any news of a revival, but with this new bankruptcy filing there could be news on the way.