Hellgate developer Flagship Studios has been going through a lot of trouble lately, but company CEO Bill Roper had stated that they won’t be shutting down despite having laid off most of its staff. However, ex-COO Max Schaefer has revealed that it is only open to take care of “final affairs.”

“It’s barely open,” he said. “It’s just open enough to take care of the final affairs, but for all intents and purposes it’s closed down.”

Former Mythos executive producer Travis Baldree added that Flagship is trying to “take care of debts and the employees in an orderly fashion, so Bill Roper and one or two other people have stuck around and are doing their best to get that done.” Schaefer, Baldree and the rest of the Mythos development team have since then reformed to create games under the banner of Runic Games.

The duo added that Flagship’s founders were working hard to prevent closure and that there were “very advanced” negotiations with a couple of people that would have kept the studio running.