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NEW: 38 Studios Defaulted on $1.125 Million

Tuesday, May 15, 2012

GoLocalProv News Team

After failing to make a $1.125 million payment to the RIEDC, GoLocalProv has learned that Schilling’s 38 Studios defaulted on May 1. In order to get through an apparent cash-flow shortfall, the company is seeking bridge financing. They have not asked for the state to provide funding, though, according to House Speaker Gordon Fox. The company has, however, looked into using state tax credits to support its finances.

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Comments:

pearl fanch

7:05am on Wednesday, May 16, 2012

This is merely a case of the press taking over a NON story. Give it a rest. Stop trying to become the news, and just report ON the news.

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