True. A shame.
The game got decent ratings (80 on meta). When I played the demo, I thought it was decent too. Not the greatest ever or anything, but despite being very picky about games I thought it wasn't too bad. A pretty good first game for 38 Studios.
Sad thing is that $75M loan by the government got eaten up fast. In about 2 years from the loan date to the bankruptcy it was gone. The game sold (according to Schilling) 1.2M copies by the 90 day mark. Who knows what the margin is, but if each game had a product margin of let's say $25, that's another ~$25M. So add that to the $75M loan and they had a pool of $100M to play with. In two years, it was basically gone and they couldn't make further $1M periodical repayments to the gov't.
I think Schilling said he also put in lots of his own money he made from baseball to keep it going a bit too.
Something is fishy about the whole thing. There seems to be a ton of cash tat got blown fast.