Build A Rocket Boy enters administration owing creditors £61.8 million
Summary
Build A Rocket Boy appointed Opus Advisory Group as administrator, confirming insolvency after debut title MindsEye failed commercially.
Accounts for the year to September 30, 2025 show a £47.5 million operating loss and £61.8 million owed to creditors.
The collapse follows over £110 million in funding from NetEase Games, RedBird Capital Partners and Galaxy Interactive.
"I don't think BARB survives this crisis"
01
Insolvency halts creditor action against a £61.8 million shortfall
Companies House filings confirm Opus Advisory Group's appointment as administrator.
Administration status halts creditor legal action against the insolvent firm.
The £61.8 million creditor exposure sits against a £47.5 million single-year operating loss.
The September 2026 filing followed the fourth redundancy wave since MindsEye's June 2025 launch.
IWGB Game Workers filed legal actions over redundancies and undisclosed Teramind monitoring software.
02
Three investor-appointed directors removed before the filing
NetEase Games, RedBird Capital Partners and Galaxy Interactive backed the studio with over £110 million.
Directors representing all three investors were terminated from the board in summer 2026.
No rescue financing has been disclosed, leaving the £110 million equity position exposed.
03
Nine years on one commercial release left no fallback revenue
Build A Rocket Boy operated nine years on a single release, MindsEye, launched June 4, 2025.
No secondary title or live-service revenue offset the launch failure.
Co-CEO Mark Gerhard blamed "organised espionage and corporate sabotage," offering no evidence.
What this means
For Investors & VC: Nine-figure funding concentrated in one unproven AAA release carries total-loss risk with no revenue diversification.
For Publishers & Developers: Undisclosed Teramind monitoring triggered a data-privacy suit - audit workforce surveillance before deployment.
Events
Companies
Games
Locations
United Kingdom
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