GRIN is gone. Company officially buckles under economic pressure and closes doors. Former employees form Outbreak Studios in aftermath

GRIN videogame company logo. Why so serious? Because they're bankrupt!
GRIN has gone bankrupt and closed their doors as the company today officially went under.

If you don’t recognize the name, GRIN is a Swedish company (with the above tooth-grinning logo) who was responsible for games like Bionic Command (2009), Terminator Salvation, Tom Clancey’s Advanced Warfighter 1 & 2 for PC and Wanted: Weapons of Fate. Some of their games like Bionic Commando: Rearmed were received well; while others, as my Terminator Salvation review attests, were received quite poorly. Both with critics and with consumers.

But the main reason for their closure is due to “too many publishers have been delaying their payments, causing an unbearable cash flow situation.” That combined with low sales for their last two games (Bionic Commando and Terminator Salvation) has caused the company to officially cease to exist as of today.

Left to the ashes is an apparent “masterpiece” that was in the making and of which will probably never see the light of day.

However all is not lost. A new company has already formed out of the dust of GRIN. That company is called “Outbreak Studios” and is made up of former GRIN employees with former GRIN lead programmer Peter Bjorklund heading it. The company will focus on creating games for Xbox Live Arcade, PlayStation Network, iPhone, Games for Windows Live and PSPGo (no WiiWare love?).

Via Kotaku