Free Radical Design, the Nottingham-based developer of the Timesplitters series and the PS3 first-person shooter Haze, is facing an uncertain future after it went into administration over the Christmas period.

A sequel to Haze was widely predicted from the company, who also had a fourth installment of the Timesplitters series in development. All company projects has now been put on hold as the developer seeks a buyer in the New Year.

The company is now operating with just 40 employees with over 75% of its workforce given their marching orders. Free Radical Design's administration company, Resolve Partners, is calling for investors to come forward.

"We are inviting all interested parties to come forward. Significant interest has already been shown and we are hoping to make further announcements by the middle of January."

With EA, Ubisoft and Codemasters all having a hand in previous company projects, it seems likely that if a bidder does come in to save Free Radical, then one of these three will be first knocking at the door.