We knew that FCK (as it's affectionately known in the gaming community) was having some problems -- with multiple delays stemming from poor graphics and inadequate content -- but most 360 owners expected the game to come out one way or another sometime later this year.
If you're a member of the Frame City Underground (the official fan community for the game), a pretty clear announcement in English has already been made. Check out the full text below. FCK ... we'll miss you.
[Thanks, murph, Blue_Six, & a tipster who'd like to remain anonymous; via Evil Avatar & GameFront]