Crytek Closes Five Of Their Studios After Failing To Make Payroll

Crytek has shut down five of their studios around the world after reports that the company was unable to pay their employees: studios in South Korea, China, Bulgaria, Hungary, and Turkey, according to VentureBeat. Should've seen this coming. It's never a good sign when checks aren't handed out on time.

Crytek created a name for itself with its in-house developed engine: CRYENGINE, along with games such as Crysis and Far Cry. More recently, Crytek developed and published the FPS Warface—which still does fairly well on Steam—and The Climb: an Oculus Rift exclusive; but VR titles are not a profitable investment.

Before this announcement Crytek had a few games in development, including a MOBA called Arena of Fate.

In a statement Crytek said it will “refocus on its core strengths of developing innovative games and game-development technology.” What exactly that means isn't clear. More than likely Crytek will focus its efforts on developing the next edition of CRYENGINE.