http://ukranews.com/ru/news/ukraine/2011/12/09/59663

"Сергей Григорович, основатель и генеральный директор крупнейшего разработчика компьютерных игр в Восточной Европе – киевской компании GSC Game World – решил закрыть компанию.
Об этом Українським Новинам сообщил информированный источник.
По его словам, сегодня, 9 декабря, Григорович объявил о закрытии компании на собрании трудового коллектива.
Свое решение он объяснил личными причинами, не конкретизируя их."

For Those unfamiliar with Russian: Use chrome's translate function to better view this, or whatever translation system you may use.

"Sergei Grigorovich, founder and CEO of the largest developer of computer games in Eastern Europe - Kiev company GSC Game World - decided to close the company.
On this to Ukrainian News reported an informed source.
According to him, today, December 9, Grigorovich announced the closure of the company at a meeting of the workforce.
He explained his decision to personal reasons, without specifying them.
Employees were promised that they owed wages to be paid prior to February 2012. According to sources, the company employs about 40-50 people.
Interlocutor of the agency said that part of the personnel of the company with close ties discontent Grigorovich the progress of development of STALKER 2, and some - with an interest in the company from one of the security forces, which began, according to the interlocutor, for about two months ago.

The source stressed that the above reasons - this is only speculation and version.
The company GSC Game World is working in the computer games industry since 1995. She has released more than a dozen of its own gaming projects, including "The Cossacks", "STALKER", "The Conquest of America", "Heroes of Annihilated Empires." The first two have become blockbuster, and even places of worship in the Ukrainian community of gamers.
Grigorovich became an entrepreneur in 2010 in Ukraine, according to the company Ernst & Young."

:'(

Who's getting the rights to the games by the way? Ok, that was too soon. (wouldn't it be great if they opened the code for the Xrayengine? Ok, ok, I shut up)

EDIT: Now seriously and for the shake of discussion: Galenkin blames the cost of developing a PC only shooter for a European audience, and a failed console publishing deal, for the collapse of the developer. According to RPS. Although the translated source from which that comes is impossible to understand.

S.T.A.L.K.E.R. series has sold over 4 million copies, for a group of ~50 developers in a country like Ukraine (which I assume is cheap to live in) sound quite good. This news is quite baffling. I really hope something good comes out of this. I wasn't very fond of another S.T.A.L.K.E.R. (especially with a console version), but I preferred that to this. Well, time will tell.

Ok, I'll move my post, :P