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Schilling: 'We will find a way'
38 Studios unable to pay employees, state Thursday
Updated: Friday, 18 May 2012, 1:11 PM EDT
Published : Friday, 18 May 2012, 11:55 AM EDT
PROVIDENCE, R.I. (WPRI) -- Amid the controversy surrounding his Providence-based video game company, Curt Schilling has sent a message to his supporters.
Schilling's company, 38 Studios, was not able to pay its employees yesterday, and the EDC returned a promised $1.125 million check to the company after they learned it would bounce due to insufficient funds.
Schilling posted on his Facebook page at about midnight Thursday: "To all the prayers and well wishes to the team and families at 38, God Bless and thank you! We will find a way, and the strength, to endure."
The company received a $75 million loan guarantee from the state in 2010, though Rhode Island taxpayers are not on the hook at this point . The EDC broke down the deal, saying that the company has received $52 million of the $75 million in privately-funded municipal bond money, and the rest is in a pair of reserve accounts, unavailable to the company.
The EDC plans to meet again to Monday to discuss the fate of 38 Studios. No word if any action will be taken at that meeting.
Copyright WPRI-12
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