Monumental had created a browser-based 3D title called Little Horrors using their in-house tech Prime Engine. They were said to be in talks with partners to use Prime for other projects.
The studio began focusing on the browser game market last year as they named former Codemasters boss Nick Wheelwright as CEO. Sadly things haven't panned out.
Monumental Games also has staff in Pune, India. Hopefully the staff can find other placements quick with studios hungry for talent. Yet another UK developer is left with no choice but to close up.