OysterWorld, a Wales-based casual games studio, has entered administration.
The BBC reports that the firm's fate stems from cashflow problems, with OysterWorld owing more than £2m to other firms.
Employees have suffered delays in their wages being paid for the last couple of months, with staff owed pay for July and part of June. Around 50 jobs have been lost as part of the studio's demise.
Administrators Kreston Reeves are trying to help the team claim statutory redundancy from the UK government, and the Welsh government is also looking for ways to support the affected staff.
OysterWorld received £1.41m in grants from the Welsh Government between 2013 and 2015.
The studio specialised in casual games and work for hire projects, and had previously developed games based on brands such as Star Wars and Peppa Pig.