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Read Only Memories Studio Files For Bankruptcy
Kotaku • • technology
Key Points:
- MidBoss, the developer behind 2064: Read Only Memories and Neurodiver, has filed for Chapter 7 bankruptcy, revealing liabilities of $823,272 against only $2,560 in assets.
- The company owes significant debts including loans, revenue shares, royalties, credit card debt, and a disputed equity claim totaling over $400,000.
- Matt Conn, a MidBoss founder and interim CEO who has a 40% stake in the company, signed off on the bankruptcy filing; he previously stepped down amid abuse allegations in 2018.
- Leadership changes included Cade Petersen as interim CEO until 2025, followed by Alexander Mehrer, who helped restructure the studio before departing in 2023; Conn resumed leadership afterward.
- The fate of the Read Only Memories IP, the Gaming in Color documentary, and two in-progress titles—All AI Must Die and The Artificial Artist—remains uncertain following the bankruptcy filing.
