Empire Interactive has gone into administration and the company is currently in the process of making all employees redundant.
That's according to MCV, which reports that administrator KPMG was called in two weeks ago in to find a buyer for the FlatOut publisher.
Despite interest from a number of parties KPMG was unsuccessful and is expected to release an official announcement on Monday.
Last year Empire, which is owned by US-based Silverstar Holdings, announced plans to axe 30 percent of its staff as part of a major shake-up designed to "maximize efficiencies within the company, eliminate certain unprofitable operations, and better position the company for growth."
Edge has contacted Silverstar CEO Clive Kabatznik, Empire Interactive and KPMG for comment.
Article supplied by Edge-Online