James White crosses the goal line for his first NFL touchdown and gave the Patriots the 10-3 lead just before halftime. (AP Photo/Charles Krupa) Notes and Observations Week 11: Defense Leads Battered Patriots to Victory Over Bills 20-13 Tom Brady (Photo by Jim Rogash/Getty Images) Connelly’s Top Ten: Patriots Win Despite Cannon’s Assassination Attempt on Brady Fox Sports Patriots and Bills Set To Do Battle on Monday Night Football Connelly’s Top Ten: Patriots vs. Rex

Curt Schilling’s Video Game Company 38 Studios Lays Off All Employees

Curt Schilling (Photo from Deadspin)

Forgive the cliche, but it’s nearly game over for Curt Schilling’s video game company, 38 Studios.

The company laid off all of the employees on Thursday, one week after it was unable to make payroll. The company had nearly 400 workers.

38 Studios was founded six years ago in Maynard, Massachusetts, but later moved its headquarters to Rhode Island, where officials issued the company a $75 million loan guarantee in 2010.

Last week, Rhode Island officials held emergency meetings two weeks after the company was unable to make a $1.1 million loan payment back to the state. The company later bounced a check before actually making the payment.

The company produced one video game called “Kingdoms of Amalur: Reckoning” and had a new massively multi-player online game on the way for 2013 tentatively titled “Copernicus.” The game, still in development, has already cost the company tens of millions of dollars to produce.

With the online game on the way, 38 Studios has tried hard to find additional investors to keep the company afloat, but has failed so far.

“I have not given up,” Rhode Island Gov. Lincoln Chafee told Boston.com. “But I am also a realist. What we’ve learned from (industry) experts is grim news. Very, very grim.”

The state of Rhode Island has already given Schilling’s company $49 million.

Schilling has poured more than $30 million of his personal fortune into the company, but he, too, is tapped.

About KC Downey - @kc_downey

KC is the "head coach" of the Sports of Boston, LLC blog network. Follow him on Twitter: @kc_downey

Tags: , ,


One comment for “Curt Schilling’s Video Game Company 38 Studios Lays Off All Employees”

  1. In video games the important thing is graphic. Can you tell me whats the minimum graphic requirements of COD 5 ?
    Hank Hendricks

    Posted by dean.rock14 | May 28, 2012, 8:11 am

Post a comment