Rune Factory developer Neverland has filed for bankruptcy and halted all current project. It comes after an eleventh-hour funding drive failed to rescue the Japanese company.
Siliconera reports - via Game Jouhou - that an official Neverland statement cited changes in the business environment as a key issue behind its losses, and that it will begin bankruptcy proceedings soon.
Rune Factory 4 was the studios last effort, published under Marvelous AQL. GI.biz adds that it was the series' fastest-selling entry to date with 150,000 unit sold as of September 2012, but it hasn't helped steer the firm away from financial trouble. Neverland was founded in 1993.
We'll have more on this as it develops.