Kingdoms of Amalur developer on edge of insolvency

The studio that brought us the surprise package Kingdoms of Amalur, Studio 38, are currently in talks with Rhode Island officials as the company struggles to stay afloat.

Having previously been on the receiving end of a £46.6 million ($75 million) loan from Rhode Island, in an attempt to keep the studio from relocating to Massachusetts, there are now concerns that this money will be lost.

“We’re concerned and just doing everything possible to ensure that 38 Studios stays part of the Rhode Island community,

“It’s always been a volatile industry to be in. That’s just the risk you take when you get into the business”, said Governor of Rhode Island Lincoln Chaffee to the Providence Journal (via GamesIndustry).

Rhode Island state are now working to on a “tight time-frame” to “protect” the loan and “keep 38 Studios solvent”.

38 Studios currently employ over 400 full-time staff and are stilling hiring for new workers for their upcoming MMO Copernicus. The title is set in the same world as Kingdoms of Amalur.

Source: Eurogamer

Image courtesy of That VideoGame Blog.