Haze dev Free Radical goes bankrupt

Posted Dec 18, 2008 at 11:04AM EST by Karl B.

Listed in: PS3 Tags: Free Radical

Contrary to some rumors that sprang up a while ago, Haze developer Free Radical is still in business. Well, they haven't exactly shut down yet, but it's getting pretty damn close.

According to This Is Nottingham, the Nottingham-based developer has "gone in to administration", which basically translates to "Free Radical has gone bankrupt".

Staffers were reportedly met by locked doors when they came in to work today. A note stuck on the doors of the Free Radical offices told them to attend a meeting at a nearby hotel.

Cameron Gunn of administration firm Resolve Partners stressed that "it's business as usual, although we have asked that almost all of the employees apart from a skeleton crew remain at home".

Gunn added that all employees have been paid up until the end of December and that another announcement will be made either before Christmas or very soon after.

I guess that's that for another Timesplitters game.

Midway has 50 days to rack up US$ 150 million or it's game over

Via This Is Nottingham

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Is exactly why developers don't necessarily want to but need to go multi-platform... In order to stay afloat in todays economy... I'm sure that Square Enix didn't want to take their Final Fantasy game multi-plat but again, they were looking at game sales, and with the PS3 having the smallest number of console sales they needed to basically "guarantee" themselves that there multi-million dollar production (FFXIII) went above and beyond the break-even point in order to avoid fate just like this... Sad but it's going to come down to survival of the fittest, both in and out of the Gaming Industry.

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Haze dev Free Radical goes bankrupt

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