New England News
8:03 am
Thu May 24, 2012

RI Governor Says Schilling Company's Woes A "Tragedy"

Rhode Island Governor Lincoln Chafee says the troubles facing Curt Schilling's video game company represent a "tragedy" for the state.

Chafee briefed reporters Wednesday on efforts to help 38 Studios survive and prevent the state from having to pay its debts.

Chafee says he's frustrated by the company's failure to provide information on its finances. He says he knows the company has laid off employees.

Still, Chafee says he's determined to try to help Schilling's company despite what he says are "terrible" indications about its health.

38 Studios was lured to Rhode Island from Massachusetts in 2010 after receiving a $75 million loan guarantee from the state.

The company was late on a $1.1 million payment to the Economic Development Corp.

Calls to Schilling were not immediately returned.

Copyright 2012 The Associated Press.  All Rights Reserved.

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