It was announced back in 2021 that TimeSplitters developer Free Radical Design had been re-established and that a revival of the sci-fi first person shooter IP had entered development, but it seems the project might be short-lived.
As per a report by VGC, Embracer Group – parent company of Plaion, the label under which Free Radical Design operates – is on the verge of closing down the studio. Employees have reportedly been informed that the studio could be shuttered amidst an ongoing internal review, and though there is a possibility that that doesn’t happen, it seems like a slight one, especially with 15 Free Radical employees having confirmed their departure from the studio on LinkedIn.
If the studio does indeed get shut down, it will remain to be seen what will become of the TimeSplitters IP. Fellow Embracer-owned studio Volition was shut down earlier this year, though it was confirmed afterward that Volition properties Saints Row and Red Faction would continue under other studios.
These closures come as part of an ongoing restructuring program at Embracer Group, which was announced earlier in the year, with the company suffering financial setbacks after failing to close deal with Savvy Group worth $2 billion earlier in 2023. That restructuring program has also entailed layoffs at Tomb Raider developer Crystal Dynamics, while Embracer is reportedly also looking for buyers for Borderlands developer Gearbox Entertainment.
In September, the company confirmed that it would be closing “a few” more studios over the coming months.