Things weren't looking great for APB and Crackdown developer Realtime Worlds last week, as the company underwent some layoffs in the "Art, Audio, Coding, Design, Production, and QA departments." According to GamesIndustry, things didn't improve over the weekend: Realtime Worlds is reportedly entering administration, a status somewhat similar to a U.S. company's decision to file for Chapter 11 bankruptcy.

The Scottish developer has named the Begbies Traynor Group as its administrator -- a third-party who attempts to rescue an insolvent company while still acting in the interests of its creditors. Much like with bankruptcy, this move isn't exactly a nail in the developer's coffin, but it could mean some radical reorganization is right around the corner.

This article was originally published on Joystiq.

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