Blitz Games Studios, the UK-based games company co-founded by industry veterans Philip and Andrew Oliver, is to close its doors after 23 years in the games business.
The studio was founded in 1990, and houses multiple divisions including Blitz Games, Blitz Arcade and Volatile Games. The outfit is perhaps best known for creating titles based on TV and movie franchises.
In a statement today, the company announced that
it has ceased trading, and that 175 people have been let go. Notably, around 50 staffers will apparently form a new studio out of the ashes of Blitz, to continue working on two of the company's current projects.
studio Rebellion Developments is also looking to help out by taking on some of the remaining out-of-work staff.
In a statement, CEO Philip Oliver said, "Frustrations with clients, the global economic crisis, and more than our fair share of simple bad luck" has led to Blitz going out of business.
"We have done all that we can to make Blitz a success, and we have come frustratingly close in recent months," he added. "Major clients have felt unable to commit to investment in significant projects, others have changed strategy whilst appearing committed, and others have been slow to commit at all - all of these things have continued to hurt our finances. We have also sustained the business for some time with our personal savings but even those reserves have now been exhausted."
Richard Wilson of UK trade body TIGA added that the liquidation of Blitz Studios "is a bitter blow for the games industry in Leamington Spa and for the UK generally."
"Blitz is an iconic British games studio," he adds. "Philip and Andrew Oliver, the CEO and CTO respectively at Blitz, have made an enormous contribution to the UK video games industry, having been involved in the sector since its beginnings in the 1980s... "We hope that everyone at Blitz will be successful in finding new work as quickly as possible. TIGA will endeavour to support any new start-ups that emerge from the closure of Blitz."
: Digital distribution platform IndieCity is also in jeopardy, as part of the closure. The Blitz Games-owned platform has noted that
it may well be sold to another company.]