Bo and Ulf Andersson, founders of the once mighty Swedish independent developer Grin, have confirmed today that they have been forced to shut up shop owing to cash flow problems.

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

"After twelve years of hard work, employing hundreds of wonderfully talented men and women, it is over. It has been a great adventure and the GRIN has experienced what few have.

"Looking back at twelve years of games, titles such as Ballistics, Bandits, GRAW 1 & 2, Bionic Commando Rearmed, Wanted: Weapons of Fate, Terminator: Salvation, Bionic Commando and our unreleased masterpiece that we weren't allowed to finish; it has been a great ride."

We imagine we'll be hearing what the unreleased masterpiece was, sooner or later.

By Luke Guttridge