Adminstrative receiver Begbies Traynor has confirmed to us r
umours that the Dundee-based APB and Crackdown maker has entered administration.Following Develop's report this morning that the developer has closed its studio in Boulder, Colorado, word broke via a Realtime Worlds employee's Twitter account this afternoon that the developer has entered administration.On contacting studio manager Colin MacDonald, he referred us to the company which is dealing with its administration procedure, Begbies Traynor. A representative from the company has confirmed to us that this is the case.
A further source has told us that Realtime has also cut its workforce to 45.
The news follows Realtime Worlds' confirmation on Friday that it was making redundant the team behind newly announced Project: MyWorld.
UPDATE 10am August 18: An official release from Begbies Traynor issued last night says that Realtime Worlds "has gone into administration in the face of lacklustre demand for its latest online ‘cops and crooks’ game APB: All Points Bulletin".
“We are currently involved in a consultative process with the 200 staff employed in Dundee,” says Paul Dounis, one of the two Begbies Traynor staff appointed as joint administrators. He confirmed that the administrators will employ some of the 42 staff in the US 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 added. He hopes that any future buyer will continue to develop APB.
We've been briefed that further details on the situation are likely to be released this afternoon, which, according to Begbies Traynor's PR representative, Home Strategic, are expected to be 'quite positive'.