After twelve years in the game development business, Swedish outfit GRIN has finally buckled under sustained financial pressure and has closed its doors completely.
According to a statement from the company’s founding brothers – Bo and Ulf Andersson – the group has been “forced” to shut down due to “too many publishers delaying their payments”, causing an “unbearable” cash flow situation.
“After twelve years of hard work, employing hundreds of wonderfully talented men and women, it is over,” read the company statement.
The closure completes a tumultuous shift in fortunes for the developer, which, just twelve months ago, was named one of the biggest independent developers in Europe.
Due to GRIN’s persistent staff cuts in recent months, it cannot be determined how many jobs have been lost from today’s final closure.
In an interview with Develop back in May, CEO Bo Andersson confirmed that the company had over 250 staff on board at the time.
Later that month, rumours emerged that as many as 160 staff had left the company, with GRIN's two studios in Barcelona and Gothenburg closing down. Those rumours were confirmed this week, with new details revealing that the group’s HQ was facing financial difficulties.
GRIN’s departing letter – which you can read in full here – cites some of its most high-profile releases, mentioning games such as Ghost Recon Advanced Warfighter 1 & 2, and Bionic Commando: Rearmed.
The studio’s final two titles had suffered from mixed critical reaction and poor sales. Those games were Terminator Salvation (published by Equity Games, Evolved Games and Sony Computer Entertainment), and Bionic Commando (published by Capcom).
GRIN was also working on an unknown project, according to the studio’s departing letter which cites the game as "our unreleased masterpiece that we weren’t allowed to finish."
To read GRIN’s departing letter in full, go here.