Paladin Studios has shut down after almost 20 years

Long-running Netherlands-based game developer Paladin Studios has closed its doors.

The independent studio, which had been operating since 2005 and employed 45 people, announced its closure in a statement posted on its website on Thursday.

Paladin’s development credits include the Nintendo-published Switch eShop game Good Job!, and mobile games Cut the Rope Remastered, Amazing Katamari Damacy and My Tamagotchi Forever.

Co-founder and co-CEO Derk de Geus said the company was forced to close after failing to secure enough work to cover its burn rate over the past few months.

“Yesterday we hit an inflection point for our financial security,” he wrote. “Going further with the current outlook would have been an irresponsible decision that would have likely caused insolvency.

“We have therefore taken this step to ensure a proper winding down, where all employees are given proper severance and the studio remains debt-free.

“Please reach out if you have any open vacancies for design, programming, 2D art, 3D art, production, QA, management or support staff – all skills are here, and these people are among the finest in the industry.”

Paladin said its existing games will remain operational and that it plans to continue providing technical support for them in the future.