SimBin Studios Re-establishes Itself After Bankruptcy

by San Antonio Attorney

SimBin Studios, a Swedish racing game developer, is starting over just more than two years after filing bankruptcy.

The studios are popular in the world of racing for the Race and GTR franchises it developed.  They have moved to North West of England, and will be led by Allan Speed, a former producer of Sony Interactive Entertainment Europe.

In 2014, the previous SimBin group was renamed to Sector 3 Studios back in 2014.  It has helped the company to start over.  The company aims to develop a cross-platform play.  In view of the revolutionary development of virtual reality, there are potentially plenty of rooms for racing simulations that utilize that, though nothing has been announced yet.

Sector 3’s CEO Chris Speed said in an interview that they are looking forward to collaborate with the new company in the United Kingdom under Allan Speed.

The landing page of SimBin’s website says “Coming Soon 2016” and includes an email address of Sector 3.

Last year, Christopher Speed said the company filed for bankruptcy and re-established as Sector 3 Studios in order to retain as many of the talented employees of SimBin as possible.  The restructuring affected 18 of its employees, according to reports.

He also said that they will continue to develop the RaceRoom Racing Experience, which is free-to-play racing simulator.

According to Speed, filing for bankruptcy was the most convenient to way to execute a pre-planned reorganization.

 

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