Schilling posted on his Facebook page at about midnight Thursday: "To all the prayers and well wishes to the team and families at 38, God Bless and thank you! We will find a way, and the strength, to endure."
The company received a $75 million loan guarantee from the state in 2010, though
Rhode Island taxpayers are not on the hook at this point. The EDC broke down the deal, saying that the company has received $52 million of the $75 million in privately-funded municipal bond money, and the rest is in a pair of reserve accounts, unavailable to the company.
The EDC plans to meet again to Monday to discuss the fate of 38 Studios. No word if any action will be taken at that meeting.
Copyright 2013 WPRI-12. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
Did you like this article? Vote it up or down! And don't forget to add your comments below!