PROVIDENCE, R.I. -- The court-supervised auction held Tuesday at 38 Studios former headquarters on Empire Street attracted 1,000 registered bidders -- about half online.
The goods once belonging to the failed Providence videogame company were divided into 2,100 lots for the auction. About 95 percent of the lots sold yesterday as the auction stretched from late morning until nearly 10 p.m., according to the Rhode Island Economic Development Corp. A revenue total for the auction won't be available until bidders make their final payments and collect their goods, which could take until Friday.
The auction is part of the attempt to raise money to pay investors who bought $75 million in EDC-backed bonds that supported 38 Studios move to Providence. The company closed this year.