LuckyHammers, the developer behind Terraforming Mars and the unreleased game Mansions of Madness: Mother’s Embrace, has closed its doors.

According to a statement given to GamesIndustry, the Montreal-based studio closed down last Friday, a closure that leaves around 70 people without employment. In that statement, LuckyHammers owners Dom Roussy and Marc-Antoine Pinard ​say that financial woes, both from issues with publishing partners and underwhelming revenue from VR projects, led to the decision.

"We are working very hard at making sure all of our employees can find a new home/studios where they will be able to keep expressing their creativity and the art of making games,” reads the joint statement. “We organized a get together for our employees with all the major studios in Montréal to assure a smooth transition and continuity."