As some of Telltale Games’ titles start to go missing from Steam, it appears the company is finally closing for good.
According to a report from GameDaily, Telltale Games is reportedly closing for good and selling off their assets. A co-founder of Sherwood Partners confirmed they would be handling the liquidation of the company and its assets. A former employee also said that their post-employment healthcare insurance would end at the end of November instead of the expected 18 months. “Assignment for the benefit of creditors” agreements (a bankruptcy equivalent) have been sent to creditors along with the disappearance of some of the company’s games from Steam.
Telltale Games has faced a rough, imminent decline in its final year. With the announcement that the studio would be laying off a quarter of its employees, to the scandalous rumors of a “toxic management culture”, things have not been easy for the once prominent developer. Things became even direr when, in September, the company announced it would be laying off all but 25 of its employees with no severance pay.
When this all happened, Telltale Games‘ CEO assured fans that they were not shutting down, but described it as a “majority studio closure” which would allow the remaining employees “to fulfill the company’s obligations to its board and partners.” With the shift of the Walking Dead’s final season being picked up by Skybound Games, coupled with this announcement, it would appear those “obligations” have been met.
The report detailed how some of Telltale’s library has gone missing from the Steam sale, including Tales of Monkey Island and Back to the Future. While, initially, the Walking Dead’s final season was temporarily pulled, it now seems to be back on sale, along with other titles like Game of Thrones. Other digital platforms have yet to be affected.
A letter sent to shareholders and creditors, along with a copy of the agreement of the assignment proceedings has been released as well, all of which were signed by the Telltale Games‘ CEO, Pete Hawley. Hawley has since hidden or deleted his Twitter account and changed his LinkedIn status to show his employment with Telltale Games ending this month. You know it’s serious when they change their LinkedIn status.
Telltale Games has yet to comment on any of these new events, but the evidence is pretty damning. While the final Walking Dead season still has some hope, it would seem that the company’s other two unreleased projects, The Wolf Among Us 2 and Stranger Things, will die with the closure of the company.