The next developer to bite the dust, Grin is closing up shop

Grin, the Swedish developer behind several recent big-budget titles like Bionic Commando, Terminator Salvation and Wanted: Weapons of Fate has just announced that it’s closing its doors permanently. According to Gamasutra, the studio is closing over “cash flow issues”.

According to a statement on the company’s site, co-founders Bo and Ulf Andersson had this to say: “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.”

This recession can’t end soon enough. Grin may have made a few clunkers this year (though you might say, clunkers with promise – Wanted kind of sucked, but the bullet curving was very fun), but the company certainly had promise, potential, and a semi-impressive pedigree. It’s also a shame that the mystery title that was under development will never see the light of day.

Best of luck to any newly ex-Grin employees out there.

Read [Gamasutra]