Troubling news are coming in from Sweden as Simbin Studios AB, long-time producer of sim racing titles, is apparently bankrupt and going out of business.

The sad news has been confirmed by former Simbin employee AnneSofie W. Madsen on Facebook.

As confirmed by AnneSofie, RaceRoom Racing Experience is planned to “continue in another setting”, the fact that staff has been laid off indicates that the new outfit will undergo some serious restructuring.

Simbin’s long history goes back to the F1 2001 days when the Simbin Development Team started producing professional-grade mods for Image Space Incorporated’s Formula One title. Led by Ian Bell, the group went the professional route shortly after, producing the first GTR title as well as the still-popular GT Legends.

When Bell and most of the core team split to form Blimey Games and, a few years later, Slightly Mad Studios, Simbin continued from their base in Sweden, producing the RACE series and other touring-car themed titles such as the STCC series.

The company seemed to have been in financial troubles several times during the past years according to various news reports, Simbin still seemed to be in good spirits, announcing a ADAC GT Masters title run alongside their RaceRoom Racing Experience and DTM Experience titles.

The studio also employed plenty of household community names such as 6e66o, Com8 and feels3, always giving talented modders the chance to turn their passion into a profession. Hopefully all of Simbin’s employees that have lost their jobs will find a new position within the industry soon!

Update: Simbin’s Jay Ekkel has shared some additional info right here on VirtualR:

The actual story in short is this:

“New studio, new location, new name, (almost) the same team. Be ensured that all development on the project will continue.

More interesting news to follow soon!”