Calls to the company's Sugar Land, Texas office were forwarded to voicemail.
Today's news comes a month after the developer lost a fraud appeal case against Southpeak Interactive, facing $7.35 million in damages and the loss of the Section 8 license as a result.
The company laid off an unspecified number of people in early March.
It is unclear how TimeGate Studios' free-to-play stylized PC shooter Minimum will be affected going forward.
TimeGate Studios was founded in 1998 and created the real-time strategy series Kohan, which was first released in 2001. The developer's next project was 2004 RTS Axis & Allies, based on the board game of the same name.
The developer moved into the first-person shooter space in 2006, when it released the F.E.A.R. Extraction Point expansion. TimeGate Studios would develop two additional F.E.A.R. expansions before creating multiplayer shooter Section 8 (2009) and its sequel Section 8: Prejudice (2011).
TimeGate Studios' last released game was this year's Aliens: Colonial Marines, which it co-developed with Gearbox Software and Nerve Software.