Junebud shut down due to an 'unsustainable financial position'
Swedish games studio Junebud AB has declared itself bankrupt.
The company has entered bankruptcy proceedings after finding itself in an “unsustainable financial position” with a low probability of recovery.
16 developers have lost their jobs as a result.
The browser games outfit, formed in 2008 by numerous industry veterans including a former chief designer and producer at EA DICE, has worked on titles such as social platformer MiiMo and Tuff Tanks.
“I'm sad to inform you today that Junebud has filed for bankruptcy,” read a statement on the studio's forum.
“It is not yet decided what will happen to MilMo or Tuff Tanks.”