Woolfe: The Red Hood Diaries raised $72,000 in funding via Kickstarter and was released on Steam Early Access in January.
However, poor sales of the game have resulted in developer Grin not only halting development of the game but also shutting down entirely - the studio has filed for bankruptcy.
"The team is now dismantled and we have requested bankruptcy unable to pay outstanding bills," said founder Wim Wouters in a blog post.
"I guess our public silence the last few months already said a lot. It is not out of disrespect that our communication dropped to almost zero… it is out of shame. It is truly devastating to read the negative comments we received by some press and players. With Woolfe being the most passion driven thing we have ever created, it feels horrible to live with the feeling we let you down."
"Once the sales numbers began rolling in, the consequences of our beautiful adventure started to become painfully clear. This is not just the end of Woolfe, but the end of the studio that I founded and nurtured through ups and downs the past 13 years. In 2002, when I founded GRIN with 2 partners, it was our goal to develop independant games."
The bankruptcy also means that the studio will be unable to deliver the promised rewards to Kickstarter backers.
"The people that believed in us from the beginning? People we made promises too," said Wouters. "People we have let down. Even worse… people we will not be able to give the full rewards they invested in."
"The crazy thing is, that we have most of the rewards ready for postage. All the backer stickers and letters of enlistment just need a stamp. All the poster sets printed, signed and ready. The artbook is ready to be printed, the soundtrack is ready for distribution, the DVD case is ready for production. But we have literally no money whatsoever to pay for stamps, let alone print the artbooks and dvd-cases."
Source:
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