The company is in the middle of assignment proceedings, according to GameDaily, “a process similar to bankruptcy, but designed to move quickly and settle the company’s affairs”. That includes moving its trademarks, copyrights, and source code to a new holder, for the purposes of selling them or perhaps maintaining an income for its creditors.
Presumably as part of this ongoing admin, Telltale’s Back to the Future and Tales of Monkey Island games are no longer available on Steam, although this could be a temporary or otherwise limited issue – the same games are still up on GOG, Xbox Live, and the PlayStation Network. Other unreleased projects like Stranger Things and The Wolf Among Us 2 are probably cancelled.
Sign up for the NAG Weekend Edition, and get a super-special curated list of what's cool and trendy this week, delivered to your inbox every Friday. Plus, each month, one subscriber can win a prize sponsored by Apex Interactive!