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Embracer CEO confirms TimeSplitters studio faces closure before Christmas
(www.videogameschronicle.com)
this post was submitted on 28 Nov 2023
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Wasn’t Embracer depending on a huge cash deal with the Saudis that fell through? Likely had an impact.
I think regardless of that deal, they were already on the debt-go-round for long enough it would've caught up to them eventually. I can't imagine this was gonna be "one last job then we go clean." The market would continue to demand more and faster growth until they hit the wall one way or the other.