Back in 2018, THQ Nordic (now a part of Embracer Group) acquired the rights to the TimeSplitters IP, a cult traditional FPS recreation that many followers had been hoping to see return. In 2021, Free Radical Studios was reformed, with plans to provide a brand new TimeSplitters recreation. Unfortunately, Embracer’s latest monetary troubles are actually taking their toll and it seems to be just like the studio could possibly be closing as soon as once more.
Two years on from reforming, VGC experiences that Free Radical is now dealing with closure. Sources near the UK-based studio declare that it was caught up in Embracer Group’s latest ‘restructuring’ efforts, which have already led to a number of studio closures this 12 months. A have a look at LinkedIn reveals that round 15 former Free Radical staff are actually in search of new employment, exhibiting that layoffs have seemingly begun.
If the studio does shut, then chances are high any plans for a TimeSplitters revival will even be placed on ice, until in fact, Embracer is keen to promote the corporate and the IP.
Embracer Group’s monetary points turned obvious earlier this 12 months. After a string of high-profile acquisitions, adopted by a scarcity of commercially profitable video games, the studio needed to start closing down studios and shedding workers, resulting in a widespread ‘restructuring’ throughout the whole firm.
Aside from the potential cancellation of TimeSplitters, Embracer can also be contemplating different huge strikes, like promoting off Gearbox Studios, the creators of Borderlands. Projects like Knights of the Old Republic Remake additionally look like in bother at this stage.
KitGuru Says: Embracer Group has not publicly confirmed any of this but however the firm does have an earnings report scheduled for subsequent week, so this case will hopefully be addressed then.
