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It looks like efforts to keep UK-based Empire Interactive going have been to no avail. Gamesindustry.biz is reporting that company has now gone into administration (the UK's term for bankruptcy) with 49 people laid off as a result.

Rights to properties owned by Empire Interactive have apparently been sold to a US-based company, New World IP, for an undisclosed sum. The company itself will not be sold off and six remaining staff members will work with the group handing the administration to shut down Empire's operations. Empire Interactive was owned by Silverstar Holdings which also owns the PC game publisher Strategy First.

It's not looking good for UK-based Empire Interactive. While last week's reports on the game publisher shutting down may have been slightly premature, MCV is now reporting they have an internal email sent to Empire's employees saying the company will likely be put into administration (the UK's term for bankrupcy) later this week.

The email states that all of Empire's employees will be laid off as a result of the action. Empire''s 70 employees are naturally not happy, especially since they have been doing without pay for the last two months thinking that a deal to buy Empire was going to be made. Empire Interactive is owned by Silverstar Holdings which also owns North American game publisher Strategy First.

UK-based Empire Interactive has been dealing with some poor financial results for the past few years, even before the recent economic downturn. Now it appears that time may have run out for the once major game publisher. According to a story at MCV the company went into admistration this week after offers to buy out the company fell through. An official announcement on Empire's fate is expected on Monday

In the past few years Empire's biggest selling games have been the FlatOut series of arcade racing games. Empire itself is owned by Silverstar Holdings which also owns the PC game publisher Strategy First. Last March Silverstar was delisted from trading from the NASDAQ stock market. It's currently unknown if Empire's shut down will have any effects on Silverstar or Strategy First.

[Via Blue's News]

UK based Empire Interactive hasn't been doing well in the past few years with its sole sales hit being the Flatout racing game series. Today Empire's parent company Silverstar Holdings announced some restructuring in the pubisher including a 30 percent reduction in Empire's staff.

Empire plans to do most of its staff cutting by selling off Razorworks, its internal game developer that it bought in 2000. The company announced that it has several unnamed suitors to buy out Razorworks and hopes to close it down in the next few weeks. Empire emphasized that it does not plan to sell off any of its game rights.

Not too many executives in the gaming industry have stayed in the same job as Empire Interactive co-founder Ian Higgins. The co-founder of the UK based game publisher has announced he will be stepping down from his post as CEO after 21 years on the job. Higgins stated in a press release that his departure was planned since Empire Interactive was purchased in 2006 by Silverstar Holdings (which also owns Strategy First).

Empire Interactive's best known franchise at the moment is the FlatOut game series from developer Bugbear. Higgins stated in his departure statement that, Empire has some " . . .great titles planned and I look forward to seeing the successful launch of these in the months to come."