Bloodlines sold tons, well over a million copies if a google search is to be considered reliable. According to what Ive heard: the problem was that Activision witheld payments to Troika because of some other project(unnamed post-apocalyptic rpg) that fell through, and without income Troika had no choice but to shut down operations.
Kind of what happened to GRIN, the publisher just refused to pay up, forcing the studio to close as they suddenly had no income to pay wages, rent etc. In GRINs case it was the publisher not approving a perfectly good milestone for a project in order to wiggle out of the contract.
Bloodlines surely didn't sell a ton. By the time Troika went bancrupt, Leon said it sold some 140 000 units. Maybe now, after 5 years, it sold a million inclusind the DD version.
The thing why so many companies have to report insolvency is that the publishers pay them too late. That's an outrage, and should be fixed per law.