Lack of funding causes Iron Lore closure

US studio Iron Lore has closed.

According to a statement published on the studio’s website, the firm closed last week and ‘ceased active game development’ after being "unable to secure funding for its next project".

The statement added: "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.

"While Iron Lore will not continue, the talent of the team is embodied in the individuals now available for other opportunities."

Iron Lore created the THQ-published Titan Quest and also recently finished development of the upcoming Dawn of War: Soulstorm, also for THQ.