GRIN Studios, the folks behind games like Wanted: Weapons of Fate and Bionic Commando has officially closed its doors today. Kotaku has the following information on the closure:

“In a letter from GRIN founders Bo and Ulf Andersson, the CEO and director, respectively, write that “too many publishers have been delaying their payments” to the developer, ending the 12-year-old company officially. The Anderssons lament their “unreleased masterpiece that we weren’t allowed to finish,” going on to thank their partners and the publishers who apparently did pay them.

Rumors of GRIN’s demise began popping up earlier this week, with studios Barcelona and Gothenburg shutting down and the imminent closure of the company’s Stockholm HQ. That followed reports of cutbacks earlier in the year, not long after the developer’s Bionic Commando and Terminator games failed to inspire sales.”

Out of the ashes of GRIN has arisen Outbreak Studios, created by the lead programmer from GRIN, the studio plans to focus on download only games.