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RTW buyer interest "from both sides of the Atlantic"

Wed 18 Aug 2010 4:34pm GMT / 12:34pm EDT / 9:34am PDT
BusinessDevelopment

Administrator: Company had run up debts of 3m

Realtime Worlds has attracted interest from potential buyers "from both sides of the Atlantic," according to a statement from administrator Begbies Traynor.

The company, which entered administration yesterday, will continue to run its flagship title APB for the time being as discussions continue over the future of the business.

It has emerged that the developer had run up debts of 3 million to trade creditors in the UK, while a total of 53 jobs in the UK and 14 in the US office would be retained - meaning the total loss of 185 posts.

"We are actively pursuing all these expressions of interest which have come from both the UK and US," said joint administrator Paul Dounis. "We very much regret the redundancies that we have had to make.

"[But APB] will continue and that is something we want all customers to be aware of," he added.

Since the news emerged yesterday, publisher Activision and fellow independent developer Blitz have announced recruitment events in Dundee starting tomorrow.

1 Comment

Kingman Cheng
Illustrator and Animator

929 150 0.2
That's encouraging to hear, it would be nice if it was kept exclusivesly UK still but stability is more important right?

Posted:3 years ago

#1

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