It's Not Looking Good For Team Bondi

by Matthew Kato on Sep 01, 2011 at 04:36 AM

Despite the success of L.A. Noire, it hasn't been raining champagne corks over at developer Team Bondi. Now comes word that the the company will begin to try and sell off its assets and/or find a buyer.

According to, filings show that the company is under external administration, which means that administrators are actively trying to sell off assets, find a buyer, and significantly reduce costs or face the closure of the studio.

A month ago, rumors surfaced that George Miller's (Mad Max) KMM Studios was interested in buying Team Bondi.

Team Bondi has run into trouble since the release of L.A. Noire, including reports of unfair working conditions and an acrimonious split with Rockstar Games.