The arcade hardware company was already on the hard times, and it seems like this is the end.
It hasn't been officially confirmed yet, but things are not looking good for Arcade1Up. The bad news comes from a leaked internal email on the Arcade1Up subreddit.
According to the email, the company is closing operating, and Friday will be the last day, either for the majority of the employees or the "Beta Team" that the email refers to more directly.
There's no info yet as to what will happen to the brand, who will be in charge, or what will be done with projects that were in development.
Fortunately, Code Mystics chimed in about at least one part of the potential fallout – what will happen when servers go down? For that part, there is a fallback plan, which will enable to netplay between the existing systems after some tinkering.
However, they are withholding the instructions until it becomes officially clear what is happening with Arcade1Up, since releasing those instructions might actually have a negative impact on the company's value, making it less likely that someone will take over to keep things running.