Following quickly on the news that TimeGate Studios filed for bankruptcy comes word that the entire staff of the company may have been laid off today.
This news comes from two sources close to Kotaku that say the struggling studio sent all of its employees home early today. This also follows a short round of layoffs back in March.
Allegedly, this comes after the studio suffered a severe blow in its battle against SouthPeak Interactive. The result of this loss is that TimeGate's Chapter 11 bankruptcy filing has moved to a Chapter 7 bankruptcy filing, which is the effective killing blow for the studio.
This news comes from two sources close to Kotaku that say the struggling studio sent all of its employees home early today. This also follows a short round of layoffs back in March.
Allegedly, this comes after the studio suffered a severe blow in its battle against SouthPeak Interactive. The result of this loss is that TimeGate's Chapter 11 bankruptcy filing has moved to a Chapter 7 bankruptcy filing, which is the effective killing blow for the studio.