It is looking dire for 38 Studios, the Kingdoms of Amalur: Reckoning studio set up with a huge hunk of public funding from a Rhode Island jobs creation program. So now, we're talking about an operation that took taxpayer money with the intent of creating jobs and can't pay the employees working in them. That's about…

After an extended struggle with finances that resulted in the year's hottest titles skipping store shelves, the GAME group prepares to enter administration, as the video game retailer's board accepts the fact that "there is no equity value left in the Group".