Gamasutra - Crackdown House Realtime Worlds Goes Into Administration
Dundee, Scotland-based All Points Bulletin and original Crackdown creator Realtime Worlds has hit financial hardship and entered into administration, Gamasutra can confirm.
A staffer for the PR house representing UK-based corporate recovery group Begbies Traynor said in a phone call that the firm is handling Realtime Worlds' administration, confirming reports that originally appeared on UK-based Develop Tuesday morning. An official statement is forthcoming, the rep said.
As administrator, Begbies Traynor will decide whether Realtime Worlds can continue on as a company in light of financial difficulties, or more likely if the studio can recover more money by selling off assets or liquidating entirely.
A staffer for the PR house representing UK-based corporate recovery group Begbies Traynor said in a phone call that the firm is handling Realtime Worlds' administration, confirming reports that originally appeared on UK-based Develop Tuesday morning. An official statement is forthcoming, the rep said.
As administrator, Begbies Traynor will decide whether Realtime Worlds can continue on as a company in light of financial difficulties, or more likely if the studio can recover more money by selling off assets or liquidating entirely.
The move into administration comes less than two months after the launch of the studio's online action MMO, APB. It garnered a lukewarm reception from game reviewers, although Realtime in July categorized the launch as "very smooth."
Appeal PR, the firm representing Begbies Traynor, issued an official statement to Gamasutra Tuesday that said Realtime "has gone into administration in the face of lackluster demand for its latest online 'cops and crooks' game APB: All Points Bulletin."
Paul Dounis with Begbies Traynor said that his company is "currently involved in a consultative process with the 200 staff employed in Dundee." He added that the administrator will employ "some" of the 42 staff in the U.S. office to assist in selling the business.
"Our intention is to continue trading the company while we attempt to find a going concern buyer which will safeguard the future of the business," Dounis stated. He also said he hopes any buyer will continue to develop APB.
Richard Wilson, CEO of video game trade body TIGA said, "This is a very sad day for Realtime Worlds, Dundee and for the Scottish and UK video games industry. ... Despite today’s terrible news, Dundee and Scotland remain good places to do games business."
Paul Dounis with Begbies Traynor said that his company is "currently involved in a consultative process with the 200 staff employed in Dundee." He added that the administrator will employ "some" of the 42 staff in the U.S. office to assist in selling the business.
"Our intention is to continue trading the company while we attempt to find a going concern buyer which will safeguard the future of the business," Dounis stated. He also said he hopes any buyer will continue to develop APB.
Richard Wilson, CEO of video game trade body TIGA said, "This is a very sad day for Realtime Worlds, Dundee and for the Scottish and UK video games industry. ... Despite today’s terrible news, Dundee and Scotland remain good places to do games business."