Schilling Throws In The Towel On 38 Studios

June 7, 2012 12:00 AM
Schilling Throws In The Towel On 38 Studios
" BOSTON (CBS) – After years of trying to make his video game company profitable, former Red Sox pitcher Curt Schilling is out of the game.

38 Studios on Thursday filed for Chapter 7 bankruptcy, as Schilling gave up his attempt to find new investors.

David Reier at Posternak, Blankstein and Lund tells me the Justice Department will now appoint a trustee to manage a liquidation of the company. Reier says Schilling is throwing up a white flag, because the owners of companies in Chapter 7 lose all control "

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