Rumor: Studio Liverpool Closing Down

A rumor surrounding the closure of Sony's UK development team Studio Liverpool (formally known as Psygnosis) has surfaced on the net. The reliable source states that the studio, renowned for successfully titles such as the PS1's Destruction Derby series and the Wipeout franchise, has started the process to close down, and halted all work on their projects. There is no confirmation from within SCE, and there is no news to what will happen with their franchises and if there will be any layoffs.