BusinessBusiness RecoveryBegbies administrators appointed to Realtime Worlds

Begbies administrators appointed to Realtime Worlds

Begbies Traynor partners Ken Patullo and Paul Dounis take on the administration of video game company Realtime Worlds

Begbies Traynor administrators have been appointed to video game developer
Realtime Worlds, with hundreds of jobs at risk in its Dundee base.

Ken Patullo and Paul Dounis, both partners in Begbies Traynor, are appointed
joint administrators to the business.

Realtime Worlds currently employs more than 200 people and has development
operations in Dundee, with its parent company based in Colorado.

Administrators confirmed they plan to retain some of the 42 staff based in
the US to assist with the sale of the business.

Dounis said it was the intention of the administrators to continue trading
the business while it sought a buyer.

Realtime Worlds recently launched the online game All Points Bulletin (APB).

However, Dounis said he hoped a new buyer would continue to develop the game.

The gaming company spent approximately five years developing APB but it
failed to attract sufficient subscriber numbers, according to reports.

Realtime Worlds was founded in 2002 by creative director Dave Jones, who
previously created games such as Grand Theft Auto.

Last October Realtime Worlds was named “hottest prospect” by PwC at a
conference on technology investment, the
BBC
reports.

Further reading:

BDO
lined up for administration of Kiss Travel

Travel
firm Sun4U enters administration

Confetti
enters administration: RSM Tenon called in

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