NEW: Schilling’s 38 Studios is Bankrupt

Thursday, June 07, 2012

 

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Curt Schilling’s broke video game company filed for bankruptcy in Delaware today, according to court filings.

38 Studios, which received a $75 million loan guarantee from the state in 2010, laid off every single employee two weeks ago after the company defaulted on a $1.125 million payment due to the Economic Development Corporation.

According to the filing, 38 Studios owes more than $150 million to more than 1,000 creditors and the company had just under $22 million in total assets.

Schilling owns 82.9 percent of the company.

A state and federal investigation is also underway.
 

 

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