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38 Studios officially declares bankruptcy, investigation launched

If you've been following the news in the gaming industry at all over the past few weeks, you'll have heard something about the ongoing demise of 38 Studios. That story - hopefully - comes to a close today as it was announced that they have filed for bankruptcy.

The tale may not be completely over yet though. Though the Curt Schilling-backed company is now naught but smoldering rubble, the government is stepping in to see if there was anything illegal going on. Apparently, they're on the lookout for any criminal mismanagement of the company's funds given that a huge amount of it came from Rhode Island taxpayers.

The bankruptcy filing will no doubt come as a disappointment to those who were still hoping they might find a way to get Project Copernicus to see daylight. At this point, the most likely hope for that to miraculously happen would be if 38 liquidated its assets and sold off the IP. It's not exactly likely, but dead games can be resurrected. See True Crime: Hong Kong aka Sleeping Dogs for an example.

For now, let's just hope there was nothing shady going on at 38 Studios. It'd be a sad end to this story if all those employees lost theirs jobs due to foul play.

40 comments

  • avantguardian - June 8, 2012 4:22 p.m.

    KoA has sold over 1.2 mil copies to date, with an aggregate score of around 80. it wasn't the worker's fault that they were expected to move at least 3 mil copies. how did they not "earn" their jobs? if some of my favorite rpg series or developers (such as platinum) had to face the same type of unrealistic expectations or scrutiny, i'm sure they would face similar outcomes, which just FEELS wrong. as far as 38 studios' business practices, and a possible investigation into their distribution of funds, that frankly, is another topic entirely, and not worth the speculation. good day.
  • lazer59882 - June 8, 2012 9:50 a.m.

    lmao i love it when people respond to my comments for days and days after i make it. im sure GR loves it too, how my incendiary comments bring them that much more traffic on articles like this. rest assured, faggots, i didn't read a single one of your responses, cause its really irrelevant to me. 38 studios is closed. good. fuck you all.
  • Thedigitalg - June 8, 2012 11:38 a.m.

    Good job, I laughed somewhat.
  • PureDarkness - June 8, 2012 4:53 a.m.

    Ok seriously, this title confused the fuck out of me. I thought that 38 different studios all declared bankruptcy simultaneously... What the fuck.
  • jmcgrotty - June 8, 2012 4:11 a.m.

    " It's not exactly likely, but dead games can be resurrected. See True Crime: Hong Kong aka Sleeping Dogs for an example." can't avoid seeing Sleeping Dogs. You guys have 100 ads for it a day on the site... (Let me add that I am not implying that their mention of the game is any sort of inside way of even more promotion for a paid advertister or anything like that. I just found it funny.)
  • Person5 - June 8, 2012 3:04 a.m.

    And one other thing dude, it is really childish to try and discredit someone for the types of games they like. Since I doubt you'll have an intelligent retort to my comment I have this to say: I like Halo, I really liked Halo: Reach. Come at me, bro.
  • Person5 - June 8, 2012 3:05 a.m.

    Meant to put this comment in the thread below, GR really needs a delete/edit feature already...
  • congregg62 - June 8, 2012 12:30 a.m.

    Wow. Sorry about the 3-post. Whoops!
  • Gibsonsg527 - June 7, 2012 9:31 p.m.

    And yes I do know the difference between there and their and I do know how to spell lately and studios. If I could edit my comments I would. Like I said I wrote that comment fast and the one I just wrote too because I forgot to include this in the comment. I also meant to say grammar instead of "spelling".
  • Redeater - June 7, 2012 1:24 p.m.

    Jim Sterling did a pretty great break down on this. It's things like this that America is in the shitter. I seriously hope Rhode Island opens a very thorough investigation into this. I'm really hoping someone from the government lost their job along with the developers. This deal should have never been approved from the start.
  • XD00175 - June 7, 2012 1:17 p.m.

    That sucks. While I didn't like Reckoning as much as I thought I would, it's still a good game. The team was good, and they all seemed really enthusiastic about it. I wonder what happened that could take them from making such an anticipated game, to being broke. I got really pissed when I heard the inordinate demands placed on the game at launch.
  • lazer59882 - June 7, 2012 12:08 p.m.

    whatever respect 38 studios earned by creating a new IP in a world of sequels prequels and reboots, went right out the window for me when I realized how much the game fucking sucked. as an rpg fan I was looking forward to koa since it was announced, so never before have I felt so completely let down and ripped off by a game. so I can't help but feel a sense of "good for you, assholes" when I hear 38 is closing down. and speaking of assholes, NOTHING makes me happier than to see curt schillings first major business venture after baseball be such a complete failure on every single level.
  • ttocs - June 7, 2012 12:26 p.m.

    KoA wasn't a horrible game. It was pretty good and just because it didn't suit your taste doesn't mean it didn't suit others. And you must not have read much about 38 studios. They were a family at that place until shit started hitting the fan. You may not like Curt, but they sure did. Even right up to the end. If anything, you should feels sorry for Curt Shilling. He was a man who was living the dream of making the game he always wanted to make. Only problem was the management that took place behind the scenes which stunted that. He was screwed by the governor of Rhode Island as he tried to get private investors and after that, everything fell apart. So, you can go on being the flaming fan boy on an internet forum you are and wishing that people with double mortgages lose their jobs all because a game didn't live up to your expectations. You sound so petty.
  • lazer59882 - June 7, 2012 3:05 p.m.

    lol. k.
  • jmcgrotty - June 8, 2012 4:09 a.m.

    38 Studios was not screwed by the governor of Rhode Island. He said from day 1 he would not support the bonds, so the company knew what they were getting into when they foolishly accepted them.
  • EwoksTasteLikeChicken - June 7, 2012 12:43 p.m.

    Bro, a bunch of people just lost their jobs, are you really happy about that?
  • Person5 - June 7, 2012 1:26 p.m.

    Apperently if you take part in making a game he didn't like you deserve to lose your job. Harsh.
  • lazer59882 - June 7, 2012 3:08 p.m.

    yeah man, tough world isn't it? if your job is to make something good that makes x money, and you make something bad that makes less than x money, your "make something" privileges should be taken away. i.e., you should lose that job.
  • Fleshcrawl - June 7, 2012 3:58 p.m.

    Like your lack to "make intelligent comment?"
  • lazer59882 - June 7, 2012 8:19 p.m.

    there is WAY too much irony here to let it go... what the fuck exactly are you trying to say? take a deep breath, slow down, and try again, cause i have no fucking clue what that's supposed to mean.

Showing 1-20 of 40 comments

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