Thursday, June 7, 2012

Curt Schilling's 38 Studios Declares Bankruptcy

The video gaming firm 38 Sudios—founded by Red Sox hero Curt Schilling—has declared bankruptcy. After failing to get fresh financing from any sources (public or private), the firm has ended operations. Previously, Schilling had asserted that new private funders were "scared off" by negative public comments by Rhode Island governor Lincoln Chafee. Reportedly, the company owed creditors $100 million. As bad as this news is for Schilling, the Rhode Island State Police, FBI, U.S. Attorney's office, and Rhode Island attorney general are investigating the "activities" of 38 Studios. Yikes!