According to GameDaily, the Telltale liquidation is underway and the developer started the process of closing up shop last month. Sherwood Partners is reportedly handling Telltale’s assignment proceedings. Assignment is similar to bankruptcy but a quicker process that aims to benefit creditors with a claim on the company in question’s assets. There are no court proceedings but it rather follows the route of arbitration to settle its debt.
A representative from Sherwood confirmed to GameDaily that they are handling Telltale’s assignment. Sherwood Partners co-founder, Martin Pichinson, said that:
It’s just that someone doesn’t make it to the finish line. Is it sad? Yes. It’s a whole new world.
Telltale officially announced its closure in September following massive layoffs without severance. For this reason, many were upset when Telltale also announced that they might finish The Walking Dead. Robert Kirkman, co-creator of The Walking Dead comic book series and co-founder of Skybound Entertainment announced in early October that they would work with the Telltale skeleton staff to finish the final season of The Walking Dead. Since that announcement things went dead. Telltale is currently facing a class-action lawsuit for breaking labour laws. A former Telltale employee told GameDaily that their post-employment health insurance, COBRA, comes to an end on November 30. The source also gave GameDaily a copy of the Assignment Letter stating that all creditors need to submit claims no later than 09 April 2019.
Now it seems that Telltale’s CEO, Pete Hawley, has vanished from social media. His Twitter and Tumblr accounts don’t exist anymore. In one of his last tweets on September 21 he stated that Telltale would continue with 25 people to work on Telltale games.
Talking about Telltale games, Valve has now started to remove some titles from the Steam storefront. Back To The Future is still listed, but you cannot purchase it. Tales of Monkey Island is completely removed. All installments of the popular The Walking Dead is gone, you can only download the free demo of the final season. You can still purchase the complete collection from the Microsoft Store, and the Season Pass from the PlayStation Store.
Game of Thrones – A Telltale Games Series and The Wolf Among Us are still available for purchase on all stores. If you still wanted to purchase any Telltale game then it would perhaps be prudent to do so sooner rather than later.