We knew something was up at developer Factor 5's studio in December, and now an official closure is annouced. Note the company's GmbH division based in Germany will be unaffected.
Factor 5 was well-known for its classic Mega Turrican series as well as its Star Wars: Rogue Squadron games, among others.
An excerpt from the German division CEO Achim Moller's statement:
We are sorry to announce the closure of the San Rafael-based Factor 5 Inc. studio, but the obstacles created by the sudden bankruptcy of Brash Entertainment for the continuation of operations have turned out too great to overcome in the current economic climate.
Bon voyage, Factor 5.
