Factor 5 is to close its San Rafael studio, the company's CEO has revealed.
According to a post on the official website, the 'obstacles created by the sudden bankruptcy of Brash Entertainment for the continuation of operations have turned out too great to overcome in the current economic climate,' wrote CEO Achim Moller.
However, Moller has stated that Factor 5 GmbH - which is headquartered in Cologne - is unaffected by the misfortune of its American cousin and will be revealing upcoming projects 'over the next months'.
"We would like to thank everybody on the publishing and development side who have supported us throughout the last 20 years and continue to do so," he added. "The current transition of the games industry is challenging, but as with transitions prior there is more opportunity than ever for independent development out there."