Schilling's company makes payment to state of R.I.

Schilling's company makes payment to state of R.I.
May 17, 2012, 9:27 pm

PROVIDENCE, R.I. Rhode Island's governor said Thursday that former Red Sox pitcher Curt Schilling's troubled video game company is making a 1.1 million payment it defaulted on this month, prompting worries about its solvency and the possibility the state might have to step in to pay its debts.

Gov. Lincoln Chafee said Schilling's 38 Studios which got a 75 million loan guarantee from the state in 2010 is paying the Rhode Island Economic Development Corp. the money that was due May 1.

Judy Chong, a spokeswoman for the corporation, could not immediately confirm whether the payment had been received. Messages were left for Schilling and a company spokesman.

The company relocated from Massachusetts in 2010 after Rhode Island offered the loan guarantee, which state officials said would means hundreds of jobs and millions of dollars in tax revenue.