This is taken from the newest issue of Gamepro.
3DO has filed for a Chapter 11 brankruptcy protection in the U.S. Bankruptcy Court of Northern California. This filing does not necessarily mean the end of 3DO, but it does admit that the company is not able to continue. Unofficial reports say that 3DO has laid off most of its development staff, and stock was removed from the NASDAQ on June 9th. CEO Trip Hawkins has had to lend money to the company twice to keep it afloat.
3DO has filed for a Chapter 11 brankruptcy protection in the U.S. Bankruptcy Court of Northern California. This filing does not necessarily mean the end of 3DO, but it does admit that the company is not able to continue. Unofficial reports say that 3DO has laid off most of its development staff, and stock was removed from the NASDAQ on June 9th. CEO Trip Hawkins has had to lend money to the company twice to keep it afloat.