Platform Gaming Bar to Close

Platform Gaming Bar to Close

Business

17 April 2024 16:06

Platform Hub One, a game-themed bar chain in the UK, has officially ceased operations and entered into liquidation. The company was established in 2018. It underwent a rebranding phase during the lockdown and, a year ago, expanded with the opening of a second gaming bar in Canary Wharf in London. As of now, both the Shoreditch and Canary Wharf venues are marked as 'permanently closed' on Google.

According to reports the company officials stated "Unfortunately, due to the company’s financial position, it is with regret that the decision has been made to cease trading and place the company into creditors’ voluntary liquidation."

Even though the closure of the venues is not official yet, the venues are permanently closed. The reports also stated that the company planned to open a new branch before the closure news. Recently SideQuest also closed a venue.

This news follows the current depressing mood in the gaming industry. Recently many companies had to lay off employees and some already closed down. Not long ago Possibility Space studios shut down.

However, the current situation of the industry also provides opportunities for the buyers and funds, most recently we have seen Modern Times Group acquiring AutoAttack Games through its wholly-owned studio, Ninja Kiwi.

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Platform Gaming Bar to Close

Business

17 April 2024 16:06

Tags: Platform

Platform Hub One, a game-themed bar chain in the UK, has officially ceased operations and entered into liquidation. The company was established in 2018. It underwent a rebranding phase during the lockdown and, a year ago, expanded with the opening of a second gaming bar in Canary Wharf in London. As of now, both the Shoreditch and Canary Wharf venues are marked as 'permanently closed' on Google.

According to reports the company officials stated "Unfortunately, due to the company’s financial position, it is with regret that the decision has been made to cease trading and place the company into creditors’ voluntary liquidation."

Even though the closure of the venues is not official yet, the venues are permanently closed. The reports also stated that the company planned to open a new branch before the closure news. Recently SideQuest also closed a venue.

This news follows the current depressing mood in the gaming industry. Recently many companies had to lay off employees and some already closed down. Not long ago Possibility Space studios shut down.

However, the current situation of the industry also provides opportunities for the buyers and funds, most recently we have seen Modern Times Group acquiring AutoAttack Games through its wholly-owned studio, Ninja Kiwi.

Share:

Sources:

Report mistake Submit news

Related news

View All

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TikTok’s parent company, ByteDance, is reportedly discussing the sale of Shanghai Moonton Technology Co., the studio behind Mobile Legends: Bang...

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GameSquare Holdings, has announced the launch of the FaZe Esports Pass. This new digital membership is developed in partnership with...

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