Build A Rocket Boy, the studio founded by Grand Theft Auto veteran Leslie Benzies, has filed for administration, according to a report by GamesIndustry.biz. This move follows repeated layoff reports and a disastrous launch for the studio's debut title, MindsEye.
The company, which has previously attributed its difficulties to "organised espionage and corporate sabotage," has appointed Opus Advisory Group to manage its administration process. This places the company under a statutory moratorium, shielding it from creditor actions while attempts are made to rescue it as a going concern. If rescue is not feasible, the administrator will seek to achieve the best possible return for creditors.
Build A Rocket Boy was established in 2016 by Benzies. Its initial project, Everywhere, was announced in 2022 as a user-generated content platform. However, MindsEye, initially conceived as part of Everywhere, evolved into a standalone AAA game that released in June of last year.
The game was met with widespread criticism. Mark Gerhard, the studio's CEO and CTO, described its launch as "without doubt, the worst launch in history." Following this reception, the studio experienced significant layoffs, with further staff reductions reported in the weeks leading up to the administration filing.
Financial documents reveal Build A Rocket Boy reported a £47.5 million operating loss and a £36.2 million net loss for the 12 months ending September 30th. During that period, the company owed creditors £61.8 million.
Eurogamer awarded MindsEye one out of five stars in its review, citing a "ridiculous story, inconsistent writing, poorly designed mission scenarios, and utterly atrocious combat."