Unless you live under a rock, then you have probably heard about 38 Studios and their recent financial problems. We've talked about it on our podcast, reported on it, and have basically given it the entire journalistic rundown.
A check written by the company appeared to bounce, but now, it seems that it has gone through. However, this good piece of news came only after the arrival of some more bad information: 38 studios had to let go of its entire staff – contracted and temporary.
The Rhode Island government was one of the main benefactors behind the funding of 38 Studios. Governer Lincoln Chafee spoke at a recent press conference on the debacle.
“It’s time for them to go out and get private capital funding. That’s the deal. It’s a generous deal, but stick to it," said Chafee.
“I said from the beginning that it was a risky enterprise. Again, these are the ramifications of being in a risky business.”
However, this most recent loan payment – which finalized at a total cost of $1.25 million – is only the tip of a huge iceberg. By next year, the studio will owe Rhode Island's government over $12.6 million. If you consider that the studio seemingly struggled to pay a mere $1.25 million back, then it is apparent 38 Studios may still be in trouble.
All of this said, the studio claims that their upcoming MMORPG, Copernicus, is still full steam ahead in terms of development. While I am not quite sold on this statement, it is always good to hear that it's not canceled – for the moment.
Via VG247