SimBin declares bankruptcy and reforms as Sector 3 Studios

Swedish studio behind RaceRoom Racing Experience undergoing significant restructuring

Former COO of SimBin Christopher Speed has told Develop that the company has gone bankrupt and reformed as Sector 3 Studios.

He claimed that development of their free-to-play title RaceRoom Racing Experience will not suffer, pointing out that the game has been updated as recently as yesterday.

“I formed Sector 3 to first try and keep as much of the talent SimBin employed as possible,” said Speed, though 18 employees will still be affected by the move.

He described the bankruptcy as the "easiest way" to enact a pre-planned "restructuring process".

“I also believe in RaceRoom Racing Experience as a product and the surrounding commercial ventures that were spawning from it,” he added.

More stories

Nintendo condemns abuse as allegations spread across Smash Bros. community

Platform holder is "deeply disturbed" as more than 50 players accused of a variety of sexual offences

By James Batchelor

Overcoming the "ugly necessity" of scaling back inactive teams

Matchmaking platform SupplyDrop aims to connect studios that have too many developers with those that have too few

By Haydn Taylor

Latest comments (3)

Ross Mansfield Creative Director Furious Bee 5 years ago
Bankruptcy may have been the "easiest" way to enact a pre-planned "restructuring process" but i'm not sure those 18 employees would agree it was the "best" way...
1Sign inorRegisterto rate and reply
Paul Johnson Managing Director / Lead code monkey, Rubicon Development5 years ago
That game under development should be classed as an asset and sold off. I bid a pound.

I'm sick and tired of companies fucking people over this way, it's about time the law changed. One company trading quite happily right now (Asylum Entertainment) got out of paying me 40K by virtue of a days worth of legal footwork.
1Sign inorRegisterto rate and reply
Keldon Alleyne Strategic Keyboard Basher, Avasopht Development5 years ago
I'm with Paul. This is shady business practice and really ought to be challenged in the courts. Wilful neglect can be argued.

Edited 1 times. Last edit by Keldon Alleyne on 14th September 2014 3:23pm

0Sign inorRegisterto rate and reply

Sign in to contribute

Need an account? Register now.