Swedish developer GRIN announced today that it was shutting down. The closure was revealed by Bo and Ulf Andersson, the brothers who founded the studio in 1997.

"It is with a heavy heart we announce today that GRIN has been forced to close its doors," read the farewell letter on GRIN's website. "This as too many publishers have been delaying their payments, causing an unbearable cashflow situation."

GRIN released Bionic Commando, Terminator Salvation and Wanted: Weapons of Fate earlier this year. The reviews for each were mixed and sales were disappointing as well. It's not clear what they were working on when they decided to shut down.

The closure is probably not surprising to GRIN's employees. It seems like the company had already shed a lot of personnel. A group of ex-GRIN employees recently founded a new studio called Outbreak Studios.