- This topic has 8 replies, 6 voices, and was last updated 11 years, 11 months ago by Anonymous.
December 18, 2008 at 12:58 pm #7072AnonymousInactive
It appears that the world economy has claimed another victim.
December 18, 2008 at 1:17 pm #43168AnonymousInactive
December 18, 2008 at 2:36 pm #43170AnonymousInactive
BOADLE WHATS THE STORY?????
December 18, 2008 at 3:28 pm #43171AnonymousInactive
Boadle can correct most of this:
CVG, don’t appear to have any more updates on it just yet.
December 18, 2008 at 4:23 pm #43172AnonymousInactive
The original article I referenced has been updated to say that the studio is in administration.
The following is taken from this evening’s Nottingham Post
"A Computer games company which employs 185 people has gone in to administration.
Staff at Free Radical Design, which is based in Bostocks Lane, Sandiacre, turned up to work this morning to find the locks had been changed.
A note stuck on the door told them to attend a meeting at the nearby Novotel at midday.
Cameron Gunn, of Resolve Partners, the administrators that have been called in to deal with the firm, said: "The company was placed in to administration yesterday afternoon.
"We will be spending the next three or four days assessing the financial position of the company but it’s business as usual, although we have asked that almost all of the employees apart from a skeleton crew remain at home."
"All employees have been paid up until the end of December and we hope to make another announcement before Christmas or very soon thereafter, but we must stress at this stage that it’s business as usual."
December 18, 2008 at 5:07 pm #43173AnonymousInactive
CVG has been told that the team recently had an ‘event’ at a local pub and things were so bad that the pub management wanted to do a credit check against the developer before proceedings commenced.
Cash was handed over rather than a card and things went ahead but it didn’t sound like a celebration. "Going down with a beer," is what we’ve been told. [/quote:3923422245]
December 19, 2008 at 3:27 am #43175AnonymousInactive
It appears that the world economy has claimed another victim.[/quote:186b9cd9a6]I don’t think we can really blame the world economy for this one. That said, I’m sure that in the more relaxed credit climate of the last few years FRD could have limped on for another bit before keeling over.
December 19, 2008 at 9:43 am #43177AnonymousInactive
It’ll be a great shame if we don’t get to see a next-gen Timesplitters now. Its rumoured that Doak and other senior staff have already left – will we see an of shoot of an offshoot?
December 19, 2008 at 11:10 am #43179AnonymousInactive
Its rumoured that Doak and other senior staff have already left – will we see an of shoot of an offshoot?[/quote:6c2c02023e]
Doak reportedly "officially" left the company early this month, and Ellis has set up another company called Pumpkin Beach, which already has a placeholder website registered under his name. The two are reportedly working on this project together and will "hand pick" Free Radical staff to join them.[/quote:6c2c02023e]
About 20 staff members were offered positions, possibly with Ellis’ new venture, Pumpkin Beach, although this is yet to be confirmed.[/quote:6c2c02023e]
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