Despite (finally) shipping a successful product, it seems allegations of shoddy work practices and claims that no major publisher would work with the team has brought about the end of LA Noire developers Team Bondi.
A report on Australian business site Smart Company, citing Australian Securities and Investments Commission documents, says that the developers have been placed into administration. While this isn't the death of Team Bondi, as it could still be sold or merged or otherwise dealt with by administrators, it doesn't look good that Smart Company called TB's studio this morning and was told "the company was no longer located there".
Team Bondi was founded in 2003, and in that time released just one game, LA Noire. Which was pretty good, and sold pretty well, but as this administration shows, there's more to making games than selling games. Taking too long to make them and treating your staff like shit will bring you down just as easily as making terrible games will.
Sydney video game studio Team Bondi in administration [Smart Company]