38 Studios officially bankrupt

Curt Schilling created 38 Studios, developers of Kingdoms of Amalur: Reckoning have officially declared bankruptcy after several reports about the same. The studio has gone ahead and officially filed for bankruptcy.

Local news group WPRI says an FBI investigation about the studio’s shady and controversial pubic funding is currently underway. 38 singed up for a deal a couple years back that enabled them for a tax-payer backed loan of $75 million.

After 38 Studios laid off several people from its team a few days back, Epic Games bought their second party Big Huge Games, known for their work on the excellent Rise of Nations RTS series and for working on KOA: Reckoning.

Looks like Amalur just didn’t generate enough revenue for them. I wonder what this means for their upcoming MMO Project Copernicus.

Stay tuned for more details, we will keep you updated.