After 23 years of development, Blitz Games Studio has closed its doors for good. You may remember them from the port of Epic Mickey 2: The Power of Two, Dead to Rights, Yoostar and Michael Phelps: Push the Limit. According to a release on its official website, all 175 developers have been let go. However, 50 of those 175 are forming a new company to work on some of Blitz Games Studio’s self-sufficient projects which will be handed off to the new company at a later date. Here is what the company had to say:

“We have managed to weather numerous storms over the last two decades that have sadly seen the demise of many of our friends and colleagues across the industry, but the run of problems we’ve had to face over the last year is unlike any we’ve seen before. Frustrations with clients, the global economic crisis, and more than our fair share of simple bad luck have all conspired against us and we are no longer able to continue trading.”

Good luck to all those that lost their jobs, we wish you the best.

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Joe Marchese is the founder / Editor in Chief of New Gamer Nation. He has been a gamer for his whole life but has been focusing on his passion to deliver the industry's new to New Gamer Nation. He is an expert of video game culture and has been featured on Fox News Online. Don't be shy to reach out and let him know what you think!