Belgian studio Grin has called it quits on its Kickstarted game Woolfe: The Red Hood Diaries.
"It’s done, there is no way back. We tried, we failed," says studio co-founder Wim Wouters in a Kickstarter update. "The team is now dismantled and we have requested bankruptcy unable to pay outstanding bills."
Those who pledged to the project are unlikely to receive their backer rewards, as the studio has "literally no money whatsoever" to buy stamps to post them out.
The second chapter of Woolfe: The Red Hood Diaries is unlikely to ever see light of day either, as potential publishers have "backed off" following the first chapter's mixed reviews. Grin is now trying to sell the game's IP, source code, and assets in the hopes someone else will pick up the project.