Bizarre Creations, the UK-based developer which released its latest game, James Bond 007 Blood Stone, just two weeks ago, could be closing down. According to several sources including VG247.com and Giant Bomb the decision was made today by the studio's owner Activision to close the studio. 200 employees are reportedly affected by this decision.

Formed in 1994 the developer worked on games for a variety of publishers, including Sega and Microsoft, before being bought by Activision in 2007. However its first game for Activision, the racing game Blur, did not sell well when it was released last May. Activision is reportedly close to issuing a press release concerning Bizarre Creations' status later today.

[Via Joystiq]

Update: Joystiq has an official comment from Activision on the situation stating, " ... because of the broader economic factors impacting the market, we are exploring our options regarding the future of the studio, including a potential sale of the business." Bizarre Creations is not officially shut down but is under a UK-required 90 day "consultation period" where its employees have been told the studio could be shut down, sold or downsized when that time period is completed.