GRIN’s situation was as dire as recent reports indicated. Following several office closures and heavy layoffs, GRIN announced that the studio is no more. In a somber message on its official Web site, founders Ulf and Bo Andersson cite delayed publisher payments as the reason for its closing.
“It is with a heavy heart we announce today that GRIN has been forced to close its doors,” the posting reads. “This as too many publishers have been delaying their payments, causing an unbearable cashflow situation.”
“After twelve years of hard work, employing hundreds of wonderfully talented men and women, it is over. It has been a great adventure and the GRIN family has experienced what few have.”
The studio experienced a meteoric rise and fall, penning several deals with publishers after proving themselves with two successful PC ports of Ghost Recon Advanced Warfighter. The last two games from the studio were Bionic Commando and Terminator Salvation.
[via Giantbomb]
