Build A Rocket Boy Enters Administration

Recent events indicate that Build A Rocket Boy’s ten-year history, following its founding in 2016, is coming to an end.

In mid-September, several employees left their jobs, and the departures did not resemble a simple round of layoffs. Representatives of the IWGB union promised support to everyone who had been made redundant.

Conditions soon worsened for the studio founded by Leslie Benzies and Mark Gerhard. The company became insolvent and entered administration, and Opus Advisory Group took over the process to attempt to get the business back on track. Doing so will prove difficult given Build A Rocket Boy’s results for the last financial year, which included an operating loss of £47.5 million, a net loss of £36.2 million, and a debt of £61.8 million.

Once the documents for the administration are filed, debt payments are temporarily suspended alongside the ability of creditors to take the company to court. Build A Rocket Boy now faces one of three possible scenarios. These include a rescue where the business is restructured and continues operating with some debts repaid and others written off before ownership returns to the previous owners. Another scenario is a sale where the company’s assets and jobs are purchased by a new owner and the proceeds repay the debts. The final scenario is closure where the remaining assets are sold off to repay creditors and the business is dissolved.

Besides its small remaining staff and assets such as office equipment, Build A Rocket Boy still owns the work on the unreleased video game platform Everywhere. The studio also retains the rights to MindsEye, which is currently supported with the release of new races after receiving its latest update a month ago.