Rune Factory developer Neverland declares bankrupcy

Rune Factory developer Neverland has declared itself bankrupt.

The Japanese developer announced it would be closing down on its official site (translated via Siliconera), saying that "performance has been sluggish due to changes in the business environment in recent years, and that their financial status has deteriorated considerably."

Attempts to find additional sources of funding also proves unsuccessful, the company added.

The studio is most famous for its work on the Rune Factory series. The games have been released across Wii, DS, 3DS, and PS3, and are a unique spin-off of gardening sim Harvest Moon, where you can tend to a garden by battling and defeating monsters. The developer also worked on the Lufia games.

The developer was said to be working on Rune Factory 5, although it is now not known if that game will ever see the light of day.