"Close your studio earlier than you want to. In an ideal scenario, it would be best to prep for a shutdown before you have run out of money."
- Former Globex LA studio head Garey Chico reflects on the lessons learned closing down his studio in the October 2012 issue of Game Developer magazine.
Closing down a studio is never exactly a "happily ever after" scenario, but with enough preparation, employees don't have to walk away without a final paycheck and severance.
In his article, Chico offers advice and guidance for anyone else unfortunate enough to be in his situation. By following his guidelines, studio heads can walk away knowing they've done all they can for their employees and, with any luck, can minimize their personal debt.
The October 2012 issue of Game Developer magazine is now available via subscription and digital purchase. This issue also features a postmortem of Rayman Origins, trends from the SIGGRAPH 2012 show floor, and more. You can purchase individual Game Developer issues or a subscription from the Game Developer web store, or download the Game Developer iOS app.