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"Some positive interest" in Realtime Worlds assets

By Dan Pearson

Wed 18 Aug 2010 9:31am GMT / 5:31am EDT / 2:31am PDT

Administrator hopeful over company's holdings

Begbies Traynor, the company dealing with the administration of APB developer Realtime Worlds, has told that "some positive interest" has been shown in the company's assets.

Previously, a statement was issued by the business rescue and restructuring specialist, confirming that company representatives Ken Pattullo and Paul Dounis had been appointed as joint administrators of the Dundee studio - citing a lukewarm reception for APB as the cause of the company winding up.

"We are currently involved in a consultative process with the 200 staff employed in Dundee," said Mr Dounis, adding: "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."

The statement also made clear that it was hoped that any buyer would be continuing the running and development of APB, and confirmed that the administrators will be employing some of the 42 staff from the company's parent office in Boulder, Colorado to assist in selling the business. A further statement from Begbies Traynor is expected this afternoon.

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Fran Mulhern , Recruit3D

863 708 0.8
Given that they can probably get RTW for a knockdown price, it could make a lot of sense for someone to buy them. Depends what they're looking for, but if they can find a buyer who's considering opening a new studio here, then RTW could fit all the boxes. Studio with great staff, a good name, a cheap location. The cost is setting up a new studio can be huge (property, hardware, staff, agency fees, etc), so this could be a way of getting it on the cheap. Am sure if this was three or four years ago, before the credit crunch, then a buyer would have been found. Whether the money is there now, I don't know, but I really hope they can save it. Whilst RTW employees should, of course, look around, I'd strongly encourage you guys to not lose hope that RTW will be saved and emerge stronger.

Edited 1 times. Last edit by Fran Mulhern on 18th August 2010 11:01am

Posted:6 years ago


Kingman Cheng Illustrator and Animator

962 187 0.2
Hopefully there will be a good buyer soon...

Posted:6 years ago


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