Posted: 12:34 PM May 25, 2012

PROVIDENCE, R.I. (AP) -- Rhode Island Gov. Lincoln Chafee says he'll continue efforts to salvage former Boston Red Sox pitcher Curt Schilling's faltering video game company and protect his state's investment.

The 38 Studios company moved from Massachusetts to Rhode Island in 2010 after Rhode Island offered a $75 million loan guarantee officials said would bring jobs and tax revenue.

The company was late this month on a $1.1 million payment to the state economic development agency. It laid off its entire staff on Thursday.

Rhode Island likely would be responsible for paying some of 38 Studios' debts should it collapse.

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