Guildford-based studio Lost Toys has become the most recent casualty among independent UK developers, with the company making its entire staff redundant and ending work on its current projects.
Company director Jeremy Longley confirmed that development has ceased at the studio, stating that he and the other directors are now investigating opportunities to maximise the potential of the developer's intellectual property.
Lost Toys was formed by a number of UK development veterans with track records at Bullfrog and Electronic Arts, and had two published titles under its belt, namely MoHo and the critically acclaimed Battle Engine Aquila, both of which were published on multiple console platforms.
The firm was most recently reported to be working on Stunt Car Racer Pro with Geoff Crammond - no publishing deal for this title has been announced, however, and it's as yet unclear what the status of the project will be following Lost Toys' closure.
Lost Toys joins a lengthy list of UK developers which have shut down in the past year, with the past month alone bringing with it no fewer than four studio closures - namely Attention to Detail and Silicon Dreams, both formerly part of the now defunct Kaboom group, and VIS Entertainment's Isle of Wight and London studios.