Industry Rumor

Rumor: TimeGate Studios lays off entire team

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It was only last week that TimeGate Studios filed for Chapter 11 bankruptcy protection, and the world was hoping that somehow the studio would be able to continue work on what was its upcoming game, Minimum. However, sources have reported to Kotaku saying that the entire team was laid off this morning.

News broke just a couple of days ago saying that the publisher, SouthPeak Interactive, was seeking to convert the Chapter 11 bankruptcy into a Chapter 7 liquidation and it appears as if they have been successful in doing so.

It’s never a good thing to see anyone lose their jobs, and if this turns out to be true, our thoughts are with everyone affected.

via Kotaku

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