Realtime Worlds update

BEGBIES TRAYNOR

19 August 2010

Administrators for leading video games company Realtime Worlds have announced that 23 members of the 60-strong Dundee team working on the company’s ambitious MyWorld 3D project who were all made redundant earlier this month have been re-employed.

Joint administrator Ken Pattullo, of business rescue and restructuring specialist Begbies Traynor said: “As a smaller entity MyWorld is attracting considerable interest from potential buyers and 23 members of the team who had been working on the project clearly add value to it as a standalone business, hence the fact we have been able to offer a limited number of those jobs back.”

‘Crackdown’ and ‘APB’ creator Realtime Worlds, which went into administration on Tuesday, announced the MyWorld “3D social gaming experience” last month, scheduled for launch in 2011. The team was, however, made redundant only days before Realtime Worlds went into administration.

Yesterday (Wedy) the administrators confirmed that while 53 jobs had been retained 157 employees had been made redundant, in addition to the 60 before administration. Trade creditors in the UK are owed in the region of £3 million.

Mr Pattullo said potential buyers from both sides of the Atlantic have expressed interest in Realtime Worlds which is the subject of a major restructuring designed to create a business that can support APB: All Points Bulletin as an ongoing online service for current future players.

“We want to offer reassurance to gamers that APB will not only continue as an online service but will be improved and supported 100 per cent during this restructuring,” he added.

Both he and joint administrator Paul Dounis today met Stewart Hosie, SNP MP for Dundee East and Dundee East MSP Shona Robison.

Mr Pattullo described the meeting as “very useful” and added: “Overall, we are cautiously optimistic.”

ENDS

For further information please contact: Les Able 07624 498355