Eurocom has entered administration and ceased trading, with the remaining staff laid off, according to a statement from administrators given to Eurogamer. Last month the studio was forced to let a large portion of its staff go. Eurocom most recently developed 007 Legends for Activision. Today a statement from administrators revealed just how bad the financial situation is for the company:
"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 statement reads. "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."
The statement goes on to announce that the 42 remaining employees of Eurocom have been laid off and that the company has ceased trading.
"Whilst this is unfortunately the end of the established Eurocom business, efforts are continuing behind the scenes to attract interested parties to Derby in order to help fill the void left by Eurocom," the administrator continued. "We are still hopeful that there will in the future be a specialist software business operating in Derby in place of Eurocom, but the focus will be completely different and therefore this is sadly the end of the console games development business."