APB developer Realtime Worlds is insolvent, and has entered administration, reports Edge Magazine, getting official confirmation of the indication in this tweet from Luke Halliwell that says: "Official, rtw in administration." This follows shortly after a report on Develop citing "a variety of sources" saying Realtime Worlds’ studio in Boulder, Colorado is being closed, which also offered speculation that administration was the next step for the company. Once highly anticipated, Realtime World's open-world action game APB shipped just six weeks ago, receiving mixed reviews at best, along with criticisms of its business model. APB's release was followed by the rapid announcement of plans for a game called Project: MyWorld, and a month ago the company announced it was restructuring. Now with Begbies Traynor handling its administration comes word that Realtime Worlds' headcount has been reduced to 45. Thanks joao via Computer and Video Games.