Free Radical Design was largely founded by the team that developed Goldeneye 007 and Perfect Dark, and launched Timesplitters for PlayStation 2, which quickly became a big hit. This was then followed by two other games, but we never got Timesplitters 4, which has been on and off in development since 2007.
The studio has suffered plenty of issues since then with cancelled games, being sold and even being dissolved, before resurrecting in 2021 as Embracer promised to deliver a new installation in the Timesplitters series. But as you know, Embracer is currently in financial troubles, and it seems like Free Radical Design and Timesplitters 4 might yet again get hit by new obstacles.
As reported by VGC, it seems like Free Radical Design might get shut down, which most likely also means the game they have been working on would get dumped as well. The employees have been informed that the studio might be shut down and several members from the team are already looking for jobs, and the best (only?) hope of survival would be if someone bought the team, which frankly seems unlikely as Timesplitters really isn't something people are asking for anymore.
We're keeping our fingers crossed that the employees will get new opportunities as soon as possible if the studio would get closed.
How interested would you be in a new Timesplitters adventure?