Administrator Resolve Partners has confirmed that Free Radical has not specifically closed, but is instead in administration.
Cameron Gunn, a spokesperson for Resolve, told ThisIsNottingham: “The company was placed in to administration yesterday afternoon.
“We will be spending the next three or four days assessing the financial position of the company but it’s business as usual, although we have asked that almost all of the employees apart from a skeleton crew remain at home.
“All employees have been paid up until the end of December and we hope to make another announcement before Christmas or very soon thereafter, but we must stress at this stage that it’s business as usual.”
The developer has 185 staff.
As has been reported throughout the day, staff arrived at work this morning to find a note of the company’s door telling them to meet in a local hotel.
Co-founders Dave Doak and Steve Ellis are rumoured to be starting another firm.
Thanks Shacknews and Hunam.