Embracer might be shutting down TimeSplitters studio Free Radical

Back in 2018, THQ Nordic (now part of Embracer Group) acquired the rights to the TimeSplitters IP, a cult classic FPS game that many fans were hoping to see return. In 2021, Free Radical Studios was reformed, with plans to produce a new TimeSplitters game. Unfortunately, Embracer's recent financial troubles are now taking their toll and it looks like the studio could be closing once again. 

Two years on from reforming, VGC reports that Free Radical is now facing closure. Sources close to the UK-based studio claim that it was caught up in Embracer Group's recent ‘restructuring' efforts, which have already led to multiple studio closures this year. A look at LinkedIn shows that around 15 former Free Radical employees are now seeking new employment, showing that layoffs have seemingly begun.

If the studio does close, then chances are any plans for a TimeSplitters revival will also be put on ice, unless of course, Embracer is willing to sell the company and the IP.

Embracer Group's financial issues became apparent earlier this year. After a string of high-profile acquisitions, followed by a lack of commercially successful games, the studio had to begin closing down studios and laying off staff, leading to a widespread ‘restructuring' across the entire company.

Aside from the potential cancellation of TimeSplitters, Embracer is also considering other big moves, like selling off Gearbox Studios, the creators of Borderlands. Projects like Knights of the Old Republic Remake also appear to be in trouble at this stage.

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KitGuru Says: Embracer Group has not publicly confirmed any of this yet but the company does have an earnings report scheduled for next week, so this situation will hopefully be addressed then. 

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