“It is with great regret that we must announce that as of close of business,” reads the announcement posted on Iron Lore’s site. The main reason behind the closure was the company’s inability to secure funding for its next project.

“We would like to extend our thanks to everyone who has helped us in the last seven years – our team who moved mountains to create such great games, our publisher THQ who has been a great partner through three product development cycles, and most of all our customers and fans. We owe all of the success we’ve had to you, and our greatest satisfaction has come from creating games that have given enjoyment to the community.”

As it follows, the team is now looking for a new start:

“If you are a developer or publisher looking to hire top-notch experienced developers, please send an email to pchieffo “at” ironlore “dot” com and we will be happy to facilitate recruiting with you.”

In addition, the studio is also looking forward licensing deals for its proprietary engine and tool set.