Germany-based games publisher 10Tacle Studios has hit serious financial troubles and has filed bankruptcy after being unable to attract new investors. Back in March, 10Tacle first announced financial problems, releasing 25 employees.
This news could provide some shock value to the sim racing community because 10Tacle is strongly affiliated with Blimey! Games and their upcoming Ferrari Project game. Blimey! however has reacted, releasing the following statement by Blimey! CEO Ian Bell:
“Despite 10T’s unfortunate and recently announced insolvency, Blimey! Games is in a very strong position. We have recently signed an unannounced major project for a top tier publisher which secures our continued growth and our Ferrari title remains unaffected. Work will continue as normal at our studio.”
While this is good news, it certainly is sad to hear about 10Tacle’s problems. Founded in 2003, the company was the first publisher freshly-founded Simbin Studio’s could attract to publish GTR, their first ever simulation. 10Tacle went on to publish GT Legends and GTR2, making them a known name among sim racers.
After the announcement, the 10Tacle stock dropped by 76% to 0,32€, the stock’s all-time high was 14,95€ back in May 2007.
Cuttlefish
August 7th, 2008 at 22:39
Aww, this is a shame. One of my favorite parts of playing GTR2 (honestly) was watching the 10T intro movie. I skipped all the others, but the 10T movie is great!
They seemed to have their retail channels pretty well sorted, I can walk into Target (American department store) and pick up GTR or GTR2 for $10 in the budget games section. Considering how hard the game is to find at “real” computer/video game stores, it’s impressive that they managed to sell to Target.
Hopefully they’ll be able to reorganize under bankruptcy and return to publishing sims!
sutyi
August 7th, 2008 at 22:43
This is sad. :(
stabiz
August 7th, 2008 at 23:43
:cry:
jam
August 8th, 2008 at 00:24
:cry:
hope they bounce back
JJ
August 8th, 2008 at 13:23
Sim business is tough & they need all the support they can get ///
Anonymous
September 3rd, 2008 at 17:35