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Volume 24 No. 156
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Schilling's 38 Studios Video Game Company Files For Bankruptcy

Former MLBer Curt Schilling's 38 Studios video game company today filed for Chapter 7 bankruptcy protection, "clearing the way to liquidate the company." The filing in Delaware indicated the company had "more than 1,000 creditors who were owed" a total of $100-500M, while the firm estimated that its assets were worth $10-50M (BOSTON.com, 6/7). A second filing by 38 Studios Baltimore, a separate limited liability corporation, "shows it owes" $100-500M with assets of between $500,000 and $1M (ESPN.com, 6/7).

The news comes as Rhode Island and U.S. authorities reportedly "have launched an investigation" into the company (PROVIDENCEJOURNAL.com, 6/7).