Telltale Games being pulled from Steam as company pursues bankruptcy liquidation
The liquidation is also pulling the rug out from under former employees again.
The Telltale Games saga is coming to a screeching halt. The studio is officially closing down and assets are being liquidated. Part of this is the removal of Telltale titles from Steam, which is already underway.
GameDaily.biz reported the news, revealing that Telltale Games is going through a process similar to bankruptcy. The assignment proceedings are "designed to move quickly and settle the company's affairs" and are being handled by Sherwood Partners, a business advisory firm. The publication reached out to Sherwood for a statement.
“It’s just that someone doesn’t make it to the finish line,” Sherwood Partners Co-Founder Martin Pitchinson said of the liquidation. “Is it sad? Yes. It’s a whole new world.”
An anonymous former employee also told the publication that the post-employment health insurance mandated by law will be ending for former Telltale staff on November 30, 2018. It was supposed to last for 18 months, but the liquidation ends the agreement.
Heads up: Several games by Telltale are starting to be delisted on Steam.
— Pixelbuster (@Nitomatta) November 14, 2018
This is the list so far pic.twitter.com/SSmIRK1nQv
The removal situation, as seen in the tweet above, is likely to continue to evolve and potentially spread into other gaming storefronts. This saga started in September when 250 Telltale employees were let go. The situation has changed significantly since, but it isn't clear if this liquidation will derail the deal with Skybound to finish The Walking Dead: Final Season with some of the staff.
Some former Telltale Games employees have already moved on and distanced themselves from the company, but Shacknews wishes the best to those that were likely depending on the mandated health insurance after having the rug pulled out from under them suddenly. Stay tuned to Shacknews for additional updates.
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