But administrator says 'significant interest' has been shown from potential buyers
MCV sister site Develop is reporting that over 140 jobs have been lost at Nottingham-based developer Free Radical - but hope remains that a buyer will be found for the company.
According to This Is Derbyshire, 40 staff have been retained at the company by administrator Resolve Partners - and that a 'number of publishers had shown interest' in buying the firm.
"We are inviting all interested parties to come forward," said Cameron Gunn of Resolve. "Significant interest has already been shown and we are hoping to make further announcements by the middle of January."
The site also reported that Erewash MP Liz Blackman had made plans to meet with the company's management as soon as possible.
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Comments
very sad
I wish all those who have been affected all the best and find employment quickly.
Re: very sad
Sadly, distressed companies sell for pennies on the dollar and don't tend to keep the best and brightest - they usually have the most opportunities.
Good luck to those that lost their jobs - it's a tough market right now.
Ultimately, the high cost of development in the UK is one of the difficult challenges for the sector right now. With some of the highest development costs in the world, there's not much that can be done. Tax credits would support the industry, but with Canada, Australia/New Zealand, and even continental Europe less expensive to develop games and publishers looking to lower their cost structures, the UK game industry is in for more dark days.
Re: Re: very sad
Sorry to sound optimistic - but at $1.5 to the pound, and parity to the Euro, UK development is a lot more cost effecitive to publishers than it was 12 months ago.
And with more routes to market than ever before, 2009 should be one of great opportunity for our development community.
There are already some Tax Credits in place - let's stop hoping for more handouts and set about writing the cool stuff that will sell.
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