10Tacle Declares Bankruptcy

[Bradley Wint]

Bad news has erupted within the racing game community as 10Tacle announces that they are now bankrupt as of August 6th 2008. The folks who brought us BMW M3 Challenge and the upcoming title “Ferrari Project” are now facing financial problems after an unsuccessful re-investment program. Here is a translated information (mind the translation errors) from DGAP and heise.

Darmstadt, 6 August 2008 - the executive committee of the 10TACLE STUDIO AG (ISIN: DE000TACL107) has request for opening on the today’s day of the Insolvency proceedings over the fortune of the 10TACLE STUDIO AG posed. The society are present subscriptions of investors, those in July 2008 the accomplished capital increase as well as those Convertible bond, as far as the subscription right was not expenditure-practiced, completely to have drawn. The investors are their Deposit obligations despite a respite setting not followed. Therefore the society is insolvent. 06.08.2008 financial messages conveys by the DGAP

The German play rewinding stand 10tacle studio is insolvent and request for opening of insolvency proceedings placed. Investors, who would have drawn the capital increase in the past month, did not follow their liabilities, are called it in a report. From that 2003 created 10tacle among other things the GTR Rennspielserie comes. In March the enterprise announced one ” made more difficult Liquidation” and the dismissal of 25 per cent of the staff announced. In May the assumption of the Publishers The Games company failed. (anw/c’ t)

10Tacle owns a majority chunk of shares in Blimey! Games studio, as well as was managed distribution in the past for games such as GTR, GT Legends and GTR2 (when they were part of SimBin). With this bad news, what is the future for the Blimey! Games studio. Could we see the cancellation of the Ferrari Project game? We really hope things turn around somehow (restructure, financial analysis and good luck).

[Bradley Wint]

Blimey! Games has announced that they are in no way affected by 10Tacle’s financial problems, this comes after the news that 10Tacle declared bankruptcy of August 6th.

Blimey! Games Ltd would like to announce their continued growth and healthy balance sheets, despite 10Tacle’s recently declared insolvency. We at Blimey! Games would like to announce that this will in no way affect our company, or our products. Work on our Ferrari project continues, and we have also recently signed an unannounced but major brand for a top publisher. Our studio has recently taken on many new staff and we are very happy to be working on several upcoming and exciting projects.”


“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.”

So we can now breathe some sigh of relief because upcoming titles such as Ferrari Project can continue its developmental process. Now we wait to see what happens to 10Tacle.