The end has come for Esportal Group AB and its gaming centre Inferno Online. This was announced by the company, which is now filing for bankruptcy after failing to secure the necessary funding required. In a statement, they say the following:
“However, the Board notes that the necessary financing to continue the transition cannot be secured, which means that the Group will soon not have coverage for its short-term working capital needs, while the company’s total debt is considered unsustainable in the long term”.
The company, which made a record loss equivalent to around £3 million in 2022, has thus not managed to reverse the negative trend, despite also receiving COVID-19 support in 2023.
Sad as hell for their customers, of course, and this is thus the second gaming centre to close in a relatively short time, with (former) rival Space closing its doors just a few months ago.
Why do you think it is so difficult to make this type of gaming centre profitable?