This just makes me sad, seeing studio after studio go under. Seeing makers of great games enveloped into large publisher conglomerates because of financial struggles. And unfortunately, it looks like the story of Kingdoms of Amalur: Reckoning‘s developer, 38 Studios, is shaping up to be no different than so many studios that came before them.
WPRI in Rhode Island reported yesterday that after defaulting on their business loan from the Rhode Island Economic Development Corporation (EDC) on May 1, 38 Studios delivered a late payment check in the amount of $1.125 million around 5 p.m. yesterday. Shortly after that, the company’s CFO, Rick Wester told the EDC ”there were insufficient funds to cover the check, and so the agency returned it.”
The governor’s office stated that the EDC would still be willing to accept the payment if 38 Studios could produce “‘readily available funds.’” (more…)
