Possible Closure of Free Radical Design Looms

Embracer's current restructuring efforts may impact Free Radical Design, the studio behind the TimeSplitters series. According to sources close to the matter, as reported by VGC, the developer's staff has been informed that the company could potentially cease operations following an evaluation. However, under UK law, a minimum of one month's consultation with employees is required before any redundancies can occur, during which alternative business options will be explored. There is also a possibility that Free Radical Design could remain operational if a third-party buyer expresses interest in acquiring the studio. Originally founded in 1999 by Steve Ellis, David Doak, and Karl Hilton, Free Radical Design developed notable titles such as TimeSplitters, Second Sight, and Haze before facing bankruptcy in 2008 and subsequent acquisition by Crytek in 2009. The TimeSplitters IP was later acquired by Koch Media in 2018. In 2021, Ellis and Doak re-established Free Radical Design to work on a new TimeSplitters game. Embracer's restructuring program, launched in June, aims to reduce debt following the collapse of a significant deal worth at least $2 billion. This restructuring has already resulted in job cuts at several studios, including Crystal Dynamics, Gearbox Publishing, and Zen Studios, as well as the closure of Campfire Cabal and Volition. Recently, Embracer's chief operating officer, Egil Strunke, announced his departure from the company.