ESWC Enters Liquidation, Company Closes
INSIDER ESPORTS - Game Services, owner of the very popular Electronic Sports World Cup, have filed for bankruptcy and are liquidating all of their assets.
The international eSports scene took another big hit today as Game Services, the owner of the worldwide, extremely popular Electronic Sports World Cup, have closed their doors and have entered liquidation. This means they will be selling all their assets, including ESWC, to other companies to pay off their debts.
ESWC was founded nearly ten years ago and is widely considered the biggest and most successful eSport tournament organizers to date. Their loss will put another major dent into eSports.
This announcement comes off the heels of MYM and ESNation's bankruptcy, but leaves many questions for eSports fans. Will ESWC pay off their 2008 debt to the winners of their events? Will ESWC continue under a different owner?
The ESWC Masters in Asia event in May is said to be still on at this time.
This leaves the world with an even more limited number of worldwide events.
The official release on the Game Services Website:
"Paris, 5 April 2009
La société Games-Service SA cesse ses activités. The company Games-Services SA ceases its activities. Sa liquidation judiciaire a été prononcée au Tribunal de Commerce de Paris le 30 mars 2009. Its liquidation was made on the Paris Commercial Court on 30 March 2009. En conséquence, l’ensemble des salariés, dont les dirigeants, ont été démis de leurs fonctions et licenciés par l’administration judiciaire le 2 avril. Accordingly, all employees, including officers, were dismissed from their posts and dismissed by the court April 2. Le processus de liquidation qui s’ouvre cette semaine aura notamment pour objectif d’organiser une éventuelle reprise ou revente des actifs, dont La Coupe du Monde des Jeux Vidéo, Le Mondial du Gaming, le magazine Overgame. The liquidation process that opens this week will focus to arrange a possible takeover or sale of assets, including The World Cup video games, World Gaming, Overgame magazine.
Paris, April 5, 2009 Paris, April 5, 2009
Games-Services SA ceases all activities. Games-Services SA ceases all activities. Its liquidation has been pronounced by the Commercial Court of Paris March 30, 2009. Its liquidation has been pronounced by the Commercial Court of Paris March 30, 2009. In consequence, all the employees and managers have been relieved from their duties and laid off April 2nd, by the adjudication. In consequence, all the employees and managers have been relieved from their duties and laid off April 2nd, by the award. The process of liquidation, which is starting this week, will notably organize the potential trade-in or resale of the company’s assets including the Electronic Sports World Cup and Overgame. The process of liquidation, which is starting this week, will organize notably the potential trade-in or resale of the company's assets including the Electronic Sports World Cup and Overgame."