Empire Interactive (FlatOut
, Big Mutha Truckers
) has officially entered administration, following a memo last week
from parent Silverstar Holdings that revealed the studio's closure was all but assured.
Nearly the entire staff, or 49 employees, lost their jobs as the studio's affairs were placed in the hands of administrator KPMG, according to a statement released by KPMG to media outlets including Edge Online
. Six employees will remain on board to finish tying up loose ends.
KPMG is "effecting an orderly wind-down of Empire's business," according to the widely-reported statement. Silverstar Holdings had attempted to deny
speculation of Empire's imminent closure in the weeks leading up to the administration confirmation.
Silverstar, which also counts Strategy First among its subsidiaries acquired Empire in 2006 for an estimated $9.1 million. Empire has offices in London, Germany, Italy, France, Spain and the U.S.
The firm has been in business for over 20 years. In March, Silverstar was delisted from the NASDAQ for failing to meet listing requirements, and did not appeal the decision.