In a statement circulated to various outlets, Capcom says it "has been focused on increasing the efficiency and growth of its game development operations". "A skeleton crew will remain until January 2019 to finalise closure operations and logistics". This could also mean that some of the work will be salvaged and moved over to one of Capcom's other studios.
The studio, which first opened in 2005 as Blue Castle Games before being purchased by Capcom in 2011, was responsible for producing the popular Dead Rising franchise and the free-to-play Puzzle Fighter.
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Capcom released a notice today saying that it expects to record losses of 4.5 billion yen ($40 million USD) from the termination of development on projects at its Vancouver studio.
About 158 employees were impacted by the studio's closure.
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That, Capcom said, led to the review and cancellation of of projects at Capcom Vancouver, and instead, it "will concentrate development of major titles in Japan".
Earlier this year, we learned that Capcom Vancouver had been hit with layoffs as the studio struggled to make headway with future projects. Despite the anticipated loss, it's not changing its forecast for the rest of the fiscal year.
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Capcom Vancouver, the videogame developer behind the Dead Rising series, is closing its doors and laying off all of its staff. While Capcom's rep confirmed multiple titles were cancelled, they said there are no more details to share at this time. The result, 2010's Dead Rising 2, was a sales success, resulting in the company being acquired and renamed by Capcom. "No new titles have been announced".