Somebody above mentioned that they seem to have the assets being reused in their new game, which seems legally iffy to me, but then I don't think anybody has actually confirmed the deal with the rebranding. Could easily have been that the business was sold as part of the bankruptcy, the new company purchased the rights to the engine and the presumably partially finished work that they're now finishing off and releasing under a new name.Wait what? I didn't realize Illusion is RIP. FFFF
There goes the one company making simulators without relying on patreon. I bet Helius was happy like no other about it.
Rebranding... Correct me if I'm wrong but If they want to escape the debt they need to leave the IPs behind, that means they lose access to all assets that they have created in the past. They can't use them, they are owned by some bank or whomever was investing in them. They reused a lot from past games so that means the games/sims will be much smaller but also most probably studio neo is gone.
Another issue is financing, after doing what they did who is gonna invest in them ? I have the feeling they will be going crowdfunding route....
All of the Illusion devs rebuilding in Unity or UE5 would have been pretty interesting though. I like their games but they are a little derivative now and that may also fix a lot of their issues with actor logic being heavily single threaded.