10Tacle Goes Bankrupt, Belgium Studio Shut Down, Titles in Limbo
WorthPlaying writes: "Since January 2008 10Tacle stocks plunged from its former high of 14 Euro/share down to a historical low of less than 1 Euro. Cause of the problem was twofold, various properties sold below expectations while other high profile/expensive titles (Elveon, Totems) got delayed. In March 2008 CEO Michele Pes was replaced by Joachim Magin who laid off 25% of its employees in a restructuring effort and canceled the acquisition of The Games Company. When investors failed to provide promised refinancing funds 10Tacle had no other choice but to file for bankruptcy"
