The Verge reports that the studio layed off its entire workforce, effectively shutting down their operations in Rhode Island and their subsidiary, Big Huge Games in Maryland. Catching Governor Lincoln Chafee by surprise, he said, "The game failed." "The game failed. That was integral to the success of the company." He was reffering to Age of Amalur, which only sold 1.2 million copies out of a necessary 3 million.
Their recent Project Copernicus, which contains Kingdoms of Amalur is up in the clouds now. Obviously.