Further details surrounding Free Radical's financial woes have arisen, with Edge sources revealing that employees would no longer receive compensation after December, as there would be "nothing left to give." Free Radical's co-founder, Steve Ellis, reportedly delivered the bad news in a nearby hotel after employees found their office doors locked. According to Edge's latest update, said bad news entailed failed attempts by the Haze developer to find a publisher or buyer, both locally and abroad.

The source claims that twenty former employees were offered different positions -- possibly at Ellis' new venture, Pumpkin Beach -- whilst others were laid off and redirected to reps from Codemasters and Monumental Games.

A separate report from GamesIndustry.biz, however, notes that "40 people are still working in the Free Radical offices, mainly on game concepts, and should be there into the New Year." It's still unclear what exactly transpired, but one thing's for certain: We feel kinda bad about this mean post now.

Source -- Source: Free Radical Locked Up
Source -- Administrator Confirms Free Radical Demise

This article was originally published on Joystiq.