LA Noire developer Team Bondi has been put into administration, documents filed at the Australian Securities and Investments Commission have confirmed.
The Commission's website reveals that the company was put into administration, a last-ditch bid to avoid insolvency, on August 30.
The news brings down the curtain on a troubled spell for the Sydney studio since the release in May of detective adventure LA Noire. While the game received a positive critical and commercial reception, Team Bondi has since been making headlines for all the wrong reasons.
First came complaints from over 100 former Team Bondi staff who found they had been omitted from the game's credits. Then disgruntled staff lifted the lid on harsh working conditions, complaining of excessive, unpaid overtime and, in Brendan McNamara, an abrasive and thoroughly unsympathetic boss.
Then came news that LA Noire publisher Rockstar had washed its hands of Team Bondi after having its fill of McNamara's leadership style. It was later reported that McNamara was in talks with KMM, an Australian film company owned by Mad Max director George Miller, and was subsequently claimed that Team Bondi had sold all its assets and IP to KMM, with staff given a choice between a job at Miller's studio or severance pay.
Now the curtain is falling on Team Bondi's eight years in the business, with administrators brought in on behalf of outstanding creditors in a bid to stave off insolvency. Options include selling assets, cutting back on operations or finding a buyer for the studio, though if assets and IP have already been sold then it may only be a matter of time before Team Bondi closes its doors for the final time.
Source: Australian SIC