38 Studios preparing to sell Kingdoms of Amalur to help pay off debt

Curt Schilling's ill-fated game developer 38 Studios is ready to sell its sole title, Kingdoms of Amalur: Reckoning, and associated assets to an unnamed party in an effort to pay off its $130 million debt, The Providence Journal reports.

The statement comes from Providence lawyer Richard J. Land, who did not identify the parties interested in the sale.

"Who knows what the value ultimately will be," Land said. "But there is interest in the assets."

Court hearings begin on Wednesday.

38 Studios declared bankruptcy in June 2012 after missing several payments to the state. Shortly after, the company laid off its entire staff and closed its doors. Last month, Rhode Island Gov. Lincoln Chafee said he was "reluctant to micromanage" the state's investment in 38 Studios due to other problems on its plate.

For a comprehensive look at the struggles of 38 Studios over the year, check out our StoryStream.