This morning, Blitz Games Studios announced it is shutting down, laying off 175 staff members in the process.
The British studio was founded in 1990, and is well-known for its licensed titles such as Spongebob Squarepants: Creature from the Krusty Krab, The Biggest Loser and Pac-Man World 3. The statement also revealed that the corporation’s senior management plans to form a new company in order to finish two upcoming titles.
According to Joystiq, developer Rebellion (well known for their Sniper Elite series), is considering hiring those still working at Blitz.
Phillip Oliver, founder of Blitz said this morning that “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.”
Blitz’s new project plans to hire back 50 of the 175 that were fired today.