Swedish dev SimBin goes bankrupt; respawns as Sector 3 Studios

Swedish dev SimBin goes bankrupt; respawns as Sector 3 Studios
Craig Chapple

By Craig Chapple

September 11th 2014 at 10:40AM

18 staff affected as new company takes reigns on RaceRoom Racing Experience

Swedish developer SimBin Studios has gone bankrupt, former COO Christopher Speed has told Develop.

He said the company had “decided to go through a re-structuring process and the easiest way to do this was through a bankruptcy”. In total 18 staff were affected.

Following the bankruptcy proceedings Speed has formed a new company named Sector 3 Studios, which will continue to work on RaceRoom Racing Experience.

He claimed development of the title will not be affected by recent proceedings, and the studio has just released a new update for the title.

“I formed Sector 3 to first try and keep as much of the talent SimBin employed as possible,” he said.

“I also believe in RaceRoom Racing Experience as a product and the surrounding commercial ventures that were spawning from it.”

In future Sector 3 will also move office to the Gothia Science Park in Skovde, Sweden, but will continue to work at its Lidkoping base “until our 2014 commitments are delivered”.