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High-risk video game venture has R.I., Curt Schilling reeling

By Mark Arsenault and Todd Wallack

 |  Globe Staff  

  May 18, 2012

After missing a $1.1 million payment May 1 and a personal plea from Schilling for more public assistance this week, 38 Studios on Thursday said it does not not have enough money to pay its employees and the state economic development official who oversaw the loan guarantees abruptly resigned. In a bizarre twist at one point Thursday, company representatives hand-delivered a check to the Rhode Island Economic Development Corporation, apparently to cover the late $1.1 million payment, but then later said the company had insufficient funds to cover it.

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