Administration and Closure
On 17 August 2010, six weeks after the release of APB, Realtime Worlds entered administration with Begbies Traynor, announcing major layoffs to their Dundee division, and mostly closing their Colorado office. References state that 50 employees will be held to maintain the game APB All Points Bullentin, though it is unclear to what extent. Joint administration was conducted by Paul Dounis and Ken Pattullo of the Begbies Traynor Group.
Dounis stated: "Our intention is to continue trading the company while we attempt to find a going concern buyer which will safeguard the future of the business." The following day (18 August), Begbies Traynor announced that Realtime Worlds had attracted interest from potential buyers "from both sides of the Atlantic." On 19 August Begbies Traynor confirmed that a buyer needs to be found for the company as a going concern by the end of September. If that deadline is not achieved liquidation is the most likely option for Realtime Worlds.
On 16 September 2010, the remainder of the Realtime Worlds staff was laid off with a temporary skeleton crew left in place to close the offices in Dundee and Colorado.
On 12 November 2010, bidding on thousands of Realtime Worlds lots ended, with industrial auctioneer Sweeney Kincaid managing the sales and collections. The lots included monitors, computers and games consoles.
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