Empire set to close as franchises are sold
Britsoft firm waves farewell
As predicted last week, UK game publisher Empire Interactive are set to close down, having entered administration with 49 staff being made redundant.
At the same time, we hear that all the IP still held by Empire (including FlatOut) have been sold to US firm New World IP.
Administrators KPMG have been appointed, although they have no intention of selling the firm - only wind-down their business in an "orderly fashion".
"Despite the fact that the gaming industry has been relatively unscathed by the current recession, trading losses, development spend and a delay in recent new product approval had a fatal impact on the Empire’s cash flow," a KPMG spokesperson offered.
"We are not looking to sell the business as a going concern and are effecting an orderly wind-down of Empire's operations."
