Build A Rocket Boy Enters Administration Amid £61.8M Debt and MindsEye Flop

Key points

• Build A Rocket Boy appointed Opus Advisory Group as its administrator on September 25, 2026, confirming the studio is insolvent.
• The company’s most recent accounts show a £47.5 million operating loss and £36.2 million net loss for the period ending September 2025, with £61.8 million owed to creditors.
• MindsEye, released in June 2025, received overwhelmingly negative reviews and failed to attract a sustained audience despite subsequent updates.
• The studio underwent multiple rounds of layoffs, with 250 to 300 staff made redundant after the game’s launch, and remaining workers reportedly let go in September 2026.
• Investors including NetEase Games, RedBird Capital Partners, and Galaxy Interactive had their directors removed from the board in summer 2026.

Background

Build A Rocket Boy was founded in 2016 by Leslie Benzies after he left Rockstar Games. The studio initially developed a multiplayer role-playing game called Everywhere before pivoting to MindsEye. The company had raised over £233 million in investment by 2024. This follows a period of intense internal turmoil, including union legal action over redundancy processes and data privacy violations related to undisclosed employee monitoring software.

How outlets are covering it

BBC Newsbeat emphasizes the chaotic development process and Benzies’ public admission of responsibility for the poor launch, while highlighting the 'sabotage' narrative he previously promoted. GamesIndustry.biz focuses on the financial specifics, noting the removal of investor directors and the legal actions taken by the IWGB union over redundancy and privacy issues. KitGuru highlights the sharp drop in cash reserves from £51.9 million to £19.4 million and the looming £17 million preference-share liability. Insider Gaming frames the administration as the culmination of a 'tumultuous road,' noting the removal of the 'Everywhere' project from the studio’s website by May 2025 and the internal HR staff’s resignation statements. All sources agree on the insolvency and the failure of MindsEye, but differ in emphasis: BBC focuses on management failure, GamesIndustry.biz on financial and legal fallout, KitGuru on cash flow collapse, and Insider Gaming on the broader narrative of decline.

Why it matters

The collapse of Build A Rocket Boy represents a significant failure in the video game industry, involving a high-profile executive, substantial investor capital, and a large workforce. It underscores the risks of ambitious game development without coherent direction and highlights the consequences of poor management and internal conflict. The case also raises questions about corporate accountability, employee rights, and the sustainability of studios that rely heavily on investor funding without delivering successful products.

What to watch

Opus Advisory Group will now assess whether Build A Rocket Boy can be sold to a new owner or must be liquidated. Creditors will be paid as much as possible from asset sales. The future of MindsEye and any remaining projects is uncertain, with no indication of continued development. Former employees and investors may pursue legal claims related to redundancy and financial losses.