Flagship Studios’ co-founder Max Schaefer has finally conceded and announced that the Hellgate: London developer is “for all intents and purposes” closed. What does that mean? It means that they’re still open so they can “take care of the final affairs.”

Flagship Studios has been in turmoil for weeks now, which culminated with the infamous “We’re not dead, we just fired everyone” proclamation. Recently the developer was forced to cancel development on their MMORPG Mythos, and both the rights to Mythos and Hellgate: London have since been picked up by T3 Entertainment.

It’s never fun to report the closing of a studio. Hopefully the staff of the now-defunct Blizzard North will be able to bounce back in the future. Lord knows they have the talent.

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