Founders Philip and Andrew Oliver released a statement which read, "We have managed to weather numerous storms over the last two decades that have sadly seen the demise of many of our friends and colleagues across the industry, but the run of problems we've had to face over the last year is unlike any we've seen before. Frustrations with clients, the global economic crisis, and more than our fair share of simple bad luck have all conspired against us and we are no longer able to continue trading," said
"It has been an absolute honour to lead such an extraordinary group of highly talented people who have consistently pushed boundaries and created amazing games that we've been hugely proud of. We've been humbled by the loyalty and commitment that they've all shown over the last 23 years and we would like to express our heartfelt thanks to all of our staff, past and present, for their years of loyalty, their creative drive and their commitment to Blitz and to us.
"We have done all that we can to make Blitz a success, and we have come frustratingly close in recent months."
Blitz produced licensed titles, such as the successful Chicken Run, as well as the Karaoke Revolution games for Konami and Epic Mickey 2. The developer is best known for the Xbox launch title Fuzion Frenzy and the fan favorite Burger King games, including the cult hit Sneak King.