Czech developer Vatra Games is on the brink of closure, according to sources.
Vatra's owner Kuju told Eurogamer that "at this stage, no decisions have yet been made.
"The new management team at Kuju have been conducting a strategic review of all aspects of the business," Kuju said. "As part of this process, the on-going business activities of the Vatra studio are currently under review."
Vatra was reportedly working on a God of War-inspired game, but the project failed.
The studio has released two games to date: Silent Hill: Downpour and Rush 'n Attack: Ex Patriot. It emerged in 2009 as a spin-off studio to 2K Czech.
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