38 Studios doesn’t seem to be recovering as hoped after its close brush with insolvency. Despite managing to repay a $1.125 million loan to the state of Rhode Island, the company is hemorrhaging cash and employees at a steady rate. Execs John Blakely and Jennifer MacLean have also left the company, historically not an indicator of a healthy recovery.
Despite letting an undisclosed portion of staff go, its health insurance running out and executive flight, 38 Studios is moving forward with its Copernicus MMO, set in the same world as their previous effort, Kingdoms of Amalur. Copernicus is expected to decide the fate of the flagging company in June. Hopefully, the studio can manage to stay afloat that long.
Source Providence Journal