Realtime Worlds collapses

Realtime Worlds' APB didn't win critics over upon its release for the PC in June, a fact exacerbated by the game's extended development time. It became clear that the game's commercial success would resemble its critical performance by the following month, when the Dundee, Scotland-based outfit announced a reorganization of its resources behind APB and downscaling development of its other projects.

Today, the studio's financial travails snapped sharply into focus, as Realtime Worlds announced that it had entered administration--also commonly referred to as bankruptcy. As reported by the BBC, administration firm Begbies Traynor is in the process of evaluating Realtime Worlds' current assets following the "lackluster" demand for APB. The firm noted that its intention is to sell off the company piecemeal or find a buyer to purchase the business outright.

"Our intention is to continue trading the company while we attempt to find a going concern buyer, which will safeguard the future of the business," said Begbies Traynor's Paul Dounis. "We are currently involved in a consultative process with the 200 staff employed in Dundee." A portion of the some 40 other staff working out of Realtime Worlds' Colorado office will be helping Begbies Traynor sell the business.

Founded in 2002 in part by Grand Theft Auto and Lemmings creator Dave Jones, Realtime Worlds gained notoriety in 2007 with the Xbox 360-exclusive action platformer Crackdown. Following on from APB, the studio's next effort was to be Project MyWorld, which the studio described as a mix of social gaming, social networking, and traditional gaming.

While the future of Project MyWorld remains unstated, Realtime Worlds has affirmed on its official Web site that today's developments will not materially impact APB. "APB will continue to run, receive ,updates and is completely accessible. There will be no disruption to the service," a representative of the company said.

Requests for additional comment on the matter were forwarded to the administration firm handling Realtime Worlds' case.