MindsEye Studio Build A Rocket Boy Enters Administration — How Benzies' Studio Collapsed

The Short Version

Build A Rocket Boy — the studio founded in 2016 by Leslie Benzies, the former Rockstar North president who steered the Grand Theft Auto series — has entered administration in September 2026. Administrators were appointed on September 23, with the formal filing reported on September 25. In practice, the studio is shutting down.

The trigger was the disastrous launch of its flagship, MindsEye. Released June 10, 2025, the game shipped with bugs and performance problems, drew refunds, and earned the unwanted title of 2025's lowest-rated game on Metacritic. A split with publisher IO Interactive and repeated rounds of layoffs followed, and the studio collapsed within a year.

Sources: VideoGamesChronicle · Wolf's Gaming Blog · Metacritic

At a Glance

The Backstory — Benzies and Big Money

Build A Rocket Boy was no ordinary startup. Founder Leslie Benzies led Rockstar North as president through GTA III, Vice City, San Andreas, GTA IV, and GTA V — a defining figure in the open-world genre. Because he left Rockstar to start this studio in 2016, expectations from the industry and investors ran high from day one.

That expectation turned into capital. In January 2024, the studio raised more than $110 million in a Series D round, giving it the runway to push two large projects at once — the action game MindsEye and the free sandbox platform Everywhere. The problem was what that money was aimed at.

The MindsEye Failure

MindsEye launched on June 10, 2025. Bugs and performance issues poured in from day one, and some players secured refunds. The critical response was brutal.

A PC metascore of 39 sits firmly in "Generally Unfavorable" territory, and the user score landed at 2.7 out of 10. Multiple outlets named MindsEye 2025's lowest-rated game on Metacritic. Measured against Benzies' pedigree and the size of the investment, the fall was that much steeper.

The Split With IO Interactive

MindsEye was published by IO Interactive (IOI), the studio famous for the Hitman series. It was one of the early flagship projects for IOI's new publishing arm, "IOI Partners" — and the game's failure left a mark on the publisher too.

In March 2026, the two sides formally ended their partnership, and a planned Hitman crossover DLC was cancelled. IOI's CEO later said, in effect, that after the MindsEye episode it "remains to be seen" whether the company will publish other studios' games again. One failure narrowed not just the developer's future but the publisher's strategy as well.

The Slow Collapse — Repeated Layoffs

The studio's downfall didn't happen overnight. Layoffs recurred around the MindsEye launch and after.

Administration here is the UK's corporate insolvency and restructuring process, in which appointed administrators decide whether the company survives or is wound down. With administrators appointed on September 23 and the formal filing on September 25, Build A Rocket Boy turned decisively toward closing its doors. Numerous staff — including recruitment and HR personnel — announced their own layoffs at this point.

Internal Conflict and 'Sabotage' Claims

Finances weren't the only story. 93 current and former employees signed an open letter raising workplace concerns — internal discontent spilling into public view.

Management's response fueled the controversy. Co-CEO Mark Gerhard publicly alleged signs of "sabotage." Yet many remain skeptical about whether the root cause was outside interference or a failure of management and quality control. The episode is one more reminder that deep funding and a glittering résumé do not guarantee a finished, polished product.

What It Leaves Behind

Build A Rocket Boy's collapse is one scene in the industry downturn running through 2026. Amid layoffs at major publishers and studio consolidations, it shows that even a well-funded startup can fall on a single failure.

The fate of related entities still listed as active — including the Everywhere project — is now uncertain. The narrative of "a company built by the person who made GTA" ultimately failed to shield it from the market's cold verdict. Star developer, big capital, ambitious IP — even with all three in place, if the product isn't ready at launch, the ending is unforgiving.

For Players and the Industry in Korea

MindsEye drew pre-launch attention in Korea too, largely on Benzies' track record. That makes this collapse instructive for Korean gamers and industry watchers alike.

• ▶For consumers: It reinforces that a star name or a big funding headline is not a reason to pre-order — waiting for post-launch reviews and performance reports is the safer path.
• ▶For the industry: Even a publisher (IOI) reconsidered its strategy after a single publishing failure — a useful reference point for publishing and investment decisions in Korea.
• ▶For labor: The repeated layoffs and the 93-signature open letter push game-development working conditions back into the spotlight.

The GamePeak Verdict

Build A Rocket Boy is a case study of a studio that started bright and dimmed fast. The hands behind GTA, more than $110 million in funding, two ambitious projects — the ingredients were all there, but the product it actually shipped didn't back them up. That name and capital can't substitute for polish is an old lesson in this business; in the autumn of 2026, this collapse rewrote it in the clearest possible terms.

Sources: VideoGamesChronicle · Wolf's Gaming Blog · PlayStation Universe · Metacritic · Wikipedia