Empire enters administration

Tuesday, 5 May 2009 17:41 GMT By Patrick Garratt


Empire, as expected, has gone bust.

The publisher’s properties have been sold to New World IP in the US, and its 49 staff have been laid off.

Administrator KPMG Restructuring has been appointed to wind down the company and is not seeking to sell the business.

“Despite the fact that the gaming industry has been relatively unscathed by the current recession, trading losses, development spend and a delay in recent new product approval had a fatal impact on the Empire’s cash flow,” said KPMG’s Ian Corfield.

“We are not looking to sell the business as a going concern and are effecting an orderly wind-down of Empire’s operations.”

More on GI.