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Bionic Commando dev shuts down

GRIN founders blame cashflow situation.

Swedish studio GRIN has officially closed.

"It is with a heavy heart we announce today that GRIN has been forced to close its doors," announce founders Bo Anderson and Ulf Anderson on the GRIN website. "This as too many publishers have been delaying their payments, causing an unbearable cashflow situation."

"After 12 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."

GRIN has been responsible for Ballistics, Bandits, Ghost Recon Advanced Warfighter I & II (multiplayer), Bionic Commando Rearmed, Wanted: Weapons of Fate, Terminator: Salvation and, most recently, Bionic Commando. The Andersons also mentioned an "unreleased masterpiece" that they say they "weren't allowed" to finish.

Shortly before the announcement 25 former-GRIN employees, lead by lead programmer Peter Bjorklund, formed developer Outbreak Studios, which will focus on making games for digital platforms.