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Poor financial management killed this company, and i don't believe the industry is dying. The industry itself is risky, just like the movie industry. You spend a huge deal of cash before you can sell your product and see how it will fare in the market. If you over estimate your numbers, you can go down badly.

I never played this game, but it got some mediocre metacritic.
And why launch this in June? They had the whole first 6 months of the year with very little competition and they choose to launch it right after Watch Dogs and MK8?

Who knows maybe they didn't had a call on this, but is one more mistake. If anything, this smaller developers should put their games far from the big launchs.