Esports org Copenhagen Flames files for bankruptcy
Esports org Copenhagen Flames files for bankruptcy Danish esports organization Copenhagen Flames has announced that it has filed for bankruptcy and laid off all personnel. In a statement posted on Copenhagen Flames’ website, CEO Steffen Thomsen explained that the decision was made after it failed to find funding to sustain operations for the club. Only two weeks ago, Copenhagen Flameshad announcedthat they were seeking an investment of 5 million DKK ($740,000 USD) to balance their books and launch a series of initiatives to ensure their profitability for 2024 and beyond....