Build A Rocket Boy, the studio behind the troubled MindsEye title, has officially placed itself under administration after a fresh round of staff cuts. According to a recent Companies House filing, an administrator has been appointed to manage the company’s affairs, although the full filing has not yet been made public. The studio has confirmed to GamesIndustry.biz that the appointed administrator is Opus Advisory Group.
The act of appointing an administrator is a clear legal signal that a company cannot meet its financial obligations and therefore seeks protection from creditors’ lawsuits. The most recent set of accounts available for Build A Rocket Boy covers the twelve‑month period ending 30 September 2025.
Those statements show a stark financial picture: the firm recorded an operating loss of £47.5 million and a net loss of £36.2 million for that year, and by the reporting date it owed its lenders a total of £61.8 million. Investors such as NetEase Games, RedBird Capital Partners and Galaxy Interactive had previously poured capital into the venture. However, during the summer of 2026 the directors representing those three backers were removed from the board, indicating a breakdown in the relationship between the studio and its major shareholders. GamesIndustry.biz has reached out to Build A Rocket Boy for comment but has not yet received a response.
Founded in 2016 by former Rockstar executive Leslie Benzies, Build A Rocket Boy entered the market with high expectations. Its inaugural project, MindsEye, launched on 4 June 2025 but was met with overwhelmingly negative reviews and a lukewarm audience response.
Within weeks of the launch, roughly 300 employees were served with redundancy notices, prompting the IWGB Game Workers Union to file legal proceedings in October 2025, accusing the studio of mishandling the lay‑off process. Early in 2026, staff discovered that the company had installed Teramind monitoring software on their work computers without any prior notification. Co‑CEO Leslie Benzies later described the move as an attempt to curb what he perceived as sabotage aimed at both the studio and the MindsEye project. His fellow co‑CEO, Mark Gerhard, escalated the narrative, claiming—without offering concrete proof—that a "very big American company" had spent over €1 million in 2025 on what he called "criminal activity" directed at Build A Rocket Boy.
In response, the IWGB launched a separate legal action alleging violations of data‑privacy laws stemming from the unannounced use of Teramind. By March 2026, the studio reiterated its earlier accusations, describing the situation as an "organised espionage and corporate sabotage" campaign coinciding with another round of redundancies.
The tension continued to rise, culminating in a further wave of layoffs in September 2026. Amid the turmoil, Build A Rocket Boy attempted to revive interest in MindsEye by releasing the "Blacklisted" update in April 2026.
Gerhard hailed the patch as "a big step forward for MindsEye, and our studio," hoping it would turn the tide of public opinion. Nevertheless, when GamesIndustry.biz spoke to staff members following the update, the overall mood remained bleak.
Many doubted the studio’s ability to recover from the disastrous launch. One former employee summed up the prevailing sentiment: "I don't think BARB survives this crisis. I believe the end is coming for BARB, and it's not heralded by saboteurs, but by Mark and Leslie themselves." This candid remark underscores the internal discord and the perception that leadership decisions—rather than external sabotage—may be driving the company toward its demise. The appointment of Opus Advisory Group as administrator marks a critical juncture for Build A Rocket Boy.
Administrators are tasked with evaluating the company’s assets, negotiating with creditors, and exploring options such as restructuring, sale, or liquidation. Given the substantial debts, the loss of key board members, and the ongoing legal challenges from both the union and privacy regulators, the path forward appears fraught with difficulty. Industry observers note that the Build A Rocket Boy saga serves as a cautionary tale about the risks of high‑profile game development ventures, especially when a debut title fails to meet market expectations. The combination of massive financial losses, contentious labor practices, alleged espionage, and a lack of clear communication with stakeholders has eroded confidence among investors and employees alike.
As the administration process unfolds, the primary questions will revolve around whether a buyer can be found for the studio’s intellectual property, whether the remaining staff can be retained, and how the outstanding £61.8 million debt will be settled. Until those answers emerge, the future of Build A Rocket Boy remains uncertain, and the gaming community watches closely to see if the company can navigate this turbulent period or if it will ultimately become another cautionary footnote in the industry’s history.