Eurocom fully shutting down
Developer unable to stay alive following financial problems
After letting go of most staff last month, developer Eurocom has been unable to resolve it's financial situation and will be closed.
The studio was forced to let its staff go after intervention from the HMRC, who deemed that the company had insufficient funds to continue trading with the number of staff it employed. Now, a statement from administrators revealed the true extent of the developer's financial woes, reports GI.
"As a result of pressure from HMRC, the directors of Eurocom filed a Notice of Intention to Appoint an Administrator at Court in order to allow time for attempts to save the Eurocom business. The Administrator and the company's directors have been negotiating with customers surrounding new contracts to develop console games, however these contracts could not be secured in time and due to insufficient funds to pay outstanding wages, Eurocom today entered Administration. As a result, the remaining 42 employees have been made redundant today and the business has ceased to trade after some 25 years."
The company's final games would turn out to be Harry Potter Kinect and 007 Legends.
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