The lights are on
Update: The check 38 Studios hand delivered to the state bounced this afternoon. According to WPRI, the EDC will still accept the overdue $1.125 million payment if 38 Studios can find a way to come up with the money.
The situation at 38 Studios is getting worse. The studio is reportedly paying the overdue $1.25 million it owes the R.I. Economic Development Corporation, but did not make payroll this week.
Judy Chong, a spokesperson for the EDC, confirmed the news to WPRI today. 38 Studios employed 379 full-time employees as of March 15, including 288 in Rhode Island, the report says.
Owner Curt Schilling met with state officials earlier this week to seek additional help. No decision was made. The parties will meet again on Monday.
In the end, I hope all goes well for them. 38 Studios is a great company.
Dx WHERE MY MONEY?!
Not good at all...
Sucks for all those that didn't get payed.Hope this is resolved quickly for their employees sake.
This is an awful situation. Reflects poorly on the state of Rhode Island for not evaluating risk properly, poorly on 38 Studios management for burning so much money, and poorly on the industry as video game investments can be perceived as even more of a risk by states and/or investors.
Sounds like poor management!!!!! But what is sad is they will get the bailout due to Curt Shilling being Curt Schilling. Being a MA native, the Red Sox players (good or bad, retired or not)are treated like Gods. But with RI's checked political past...they better be real careful messing this up!!!!