Taxpayer-backed gaming studio collapses into administration
A company backed by the UK government’s British Business Bank and has worked with some of the world’s largest gaming companies has collapsed into administration.
Airship Interactive provides artwork for the likes of Disney, Microsoft and Blizzard and has contributed to titles such as Spider-Man, FC24 and Star Wars: Jedi Fallen Order.
The British Business Bank’s Northern Powerhouse Investment Fund (NPIF) has backed Airship Interactive – through a NPIF debt finance fund managed by FW Capital – since 2020.
In January this year, the company received a further six-figure investment as it opened an 8,000 sq ft office at Bruntwood SciTech’s Glasshouse in Alderley Edge, Cheshire.
The business also received further investment from the fund in 2022.
The NPIF includes UK taxpayer money as well as private investment. The British Business Bank does not hold an equity stake directly.
However, new filings with The Gazette, the official public record, as well as Companies House have confirmed that the firm has entered administration.
Administrators at Leonard Curtis have been appointed to oversee the process.
Gaming art firm had planned huge expansion
Airship Interactive was set up in 2008 by CEO Joe Harford and was previously headquartered in Lytham St Annes.
According to a filing with Companies House, Harford owns the business through a holding company which has not entered administration.
Airship Interactive has also worked with the likes of 2KGames and Sony Playstation Studios.
In October 2022, the company revealed plans to create more than 200 jobs within the following three years.
According to its most recent financial accounts, for the year to 31 January, 2025, Airship Interactive had total net assets of £570,786, up from £305,463 in the prior 12 months.
It also had a headcount of 78 members of staff, a rise from 70.
In a statement, Joe Harford said: “The Airship Interactive brand is now operating as Airship, a specialist creative studio focused on character art, owned by Airmergent.
“The leadership team and staff previously from Airship Interactive will lead the new Airmergent business, which will serve the evolving games industry in delivering excellence more efficiently. More details will be announced in the coming days.”
Leonard Curtis’ lead administrator Mike Dillon said: “Following a formal administration process, the
business and assets of Airship Interactive Ltd have been successfully acquired by Airmergent
Limited.
“The transaction ensures continuity for the Airship Interactive brand under new
ownership.”
FW Capital declined to comment.