10TACLE Insolvent

10TACLE Studios has
filed for insolvency according to a report

on the German edition of the Wall Street Journal Website. According to

GamesIndustry.biz: "It is believed that the EUR 6.2 million in funding the
developer announced just last week fell through, causing the company to declare
insolvency last night. Since then, the developer has seen its share price drop
over 73 per cent on the Frankfurt stock exchange." They contacted 10TACLE for
comment, but have not yet received a reply. There is a report on
Gamasutra
(thanks Mike Martinez) with a statement from 10TACLE London branch Blimey Games
indicating this will not impact them: "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."


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