According to Rhode Island state governor Lincoln Chafee in a statement to the local NBC news affiliate, "We're always working to keep Rhode Island companies solvent, and that's what we're doing with 38 Studios."
The Providence, RI-based studio was based in Massachusetts but moved to Rhode Island when state officials offered Schilling a $75M loan guarantee to bring hundreds of jobs into the state as well as additional tax revenue.
The company's lone release, Kingdoms of Amalur: Reckoning, was released in February, and sold a paltry 410K copies across three platforms.
When the game was released, Schilling stated, "The only way taxpayers lose is if the company failed." With only 410K sales, the situation seems grim for 38 Studios.