California-based studio Factor 5 has officially closed its doors, CEO Achim Moller said in a statement on the company’s website yesterday. The studio was reported to have folded last December, though this was never confirmed.
The developer, best known for their work on the critically acclaimed Rogue Squadron series and PlayStation 3 exclusive Dragon romp Lair, closed shop due to financial repercussions bought on by Brash Entertainment filing for bankruptcy late last year. Factor 5 had previously signed a publishing deal with Brash in March 2008.
"We are sorry to announce the closure of the San Rafael-based Factor 5, Inc. studio, but the obstacles created by the sudden bankruptcy of Brash Entertainment for the continuation of operations have turned out to be too great to overcome in the current economic climate," said Moller.
The studio was originally founded in Cologne, Germany in 1987 by five former Rainbow Arts employees, before relocating to San Rafael, California USA in 1994.