GriN Multimedia, the studio known for the Kickstarter-funded Woolfe: The Red Hood Diaries, has closed its doors.

Wim Wouters, the founder of GriN Multimedia, announced some bad news pertaining to the future of his studio. Last year, Wouter and his team ran a successful Kickstarter for Woolfe: The Red Hood Diaries, which was to be a gritty retelling of the classic fairy tale. Woolfe ended up raising about $22,000 higher than its campaign goal, and its first episode launched a little over four months ago to a rather lukewarm reception (we gave Woolfe's first episode a 5.0/10). After getting lackluster reviews, Wouters and his team found that the game simply hasn't sold as much as they were hoping it would.

Here's what Wouters said about closing down his small studio:

The team is now dismantled and we have requested bankruptcy unable to pay outstanding bills.
I guess our public silence the last few months already said a lot. It is not out of disrespect that our communication dropped to almost zero… it is out of shame. It is truly devastating to read the negative comments we received by some press and players. With Woolfe being the most passion driven thing we have ever created, it feels horrible to live with the feeling we let you down.

There were supposed to be other episodes released for Woolfe: The Red Hood Diaries that will never be completed by Wouters and his team at GriN Multimedia. Unfortunately, most of the Kickstarter contributor's bonuses will not be going out as well.

Here's what Wouters had to say about the current status of the IP:

I think it is quite obvious now that we will not be able to finalise production of Woolfe Volume 2. With the low rating of Volume 1, all interested publishers have backed off and we no longer have the financial means to self publish… But we still have loads of assets and we think it would be a shame to let them all go to waste… maybe there are other developers out there that would like to take a shot at making new volumes of Woolfe. Maybe they can achieve what we were unable to accomplish. If our visual style is our strongest element we should make this available for others who are stronger at making gameplay. We would want nothing more than that the legacy of Woolfe would live on forever, or at least longer than a few months.
So with a heavy heart I have to communicate that as of now the IP of Woolfe, all of the assets and source code is now for sale via the appointed trustee Cathérine Lannoy. (c.lannoy@etrevia.be)

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