Free Radical still exists, that we can confirm, but things aren't looking good with more than 75% of the workforce now made redundant (over 140 employees); the developer officially up for sale.

The Nottingham-based game developer entered administration in the run up to Christmas, with Resolve Partners appointed to make the best of a bad situation.

Cameron Gunn, representing the administrators, reveals that there has been a lot of interest from third-parties considering the purchase of the developer, other gaming firms presumably eying IP like TimeSplitters with interest.

Forty employees remain at Free Radical, the 140 redundancies effective from the end of the year.

It remains to be seen if something of can be saved, but with costs now dramatically cut there certainly seems to be a good chance of something being salvaged.

By Luke Guttridge