Guild Esports is in Financial Trouble

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Guild Esports is in Financial Trouble

Business

01 August 2024 11:40

Guild Esports has announced that it is exploring various financial solutions after a strategic review revealed that the company is facing severe cash constraints. As of July 31, 2024, the UK esports organization reported a cash balance of just £25k.

According to reports, to address its immediate financial needs, Guild Esports is considering several measures. These include securing additional funding, negotiating improved payment terms with creditors, and implementing further cost reduction initiatives. The company has short-term liabilities totaling £1.36 million due by the end of September, while it is owed £1.52 million.

More:Perseverance to Release Roster

This announcement follows a challenging financial period for Guild Esports, which reported a £1.8 million loss before tax for the first half of 2024 (from October 1, 2023, to March 31, 2024). In May 2024, the organization received a financial boost when Dubai-based investor Mr. Koshy Vinod acquired approximately 66.7 million shares, representing an 8.28% stake in voting rights.

Tags: Guild Esports
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Guild esports financ.png
Guild Esports is in Financial Trouble

Business

01 August 2024 11:40

Tags: Guild Esports

Guild Esports has announced that it is exploring various financial solutions after a strategic review revealed that the company is facing severe cash constraints. As of July 31, 2024, the UK esports organization reported a cash balance of just £25k.

According to reports, to address its immediate financial needs, Guild Esports is considering several measures. These include securing additional funding, negotiating improved payment terms with creditors, and implementing further cost reduction initiatives. The company has short-term liabilities totaling £1.36 million due by the end of September, while it is owed £1.52 million.

More:Perseverance to Release Roster

This announcement follows a challenging financial period for Guild Esports, which reported a £1.8 million loss before tax for the first half of 2024 (from October 1, 2023, to March 31, 2024). In May 2024, the organization received a financial boost when Dubai-based investor Mr. Koshy Vinod acquired approximately 66.7 million shares, representing an 8.28% stake in voting rights.

Share:Twitter.pngFacebook.pngInstagram.pngLinkedin.png
Sources:
Esports News UK.png
Report mistake   Report-mistake-icon.png
Submit news   Submit-news-icon.png

Related News Icon Related news

View All
News Image
Guild Esports Partners with GINX TV

Guild Esports and Gaming has entered into a strategic partnership with GINX TV, a well-established broadcaster specializing in gaming...

Business

Feb 21, 2025

News Image
Guild Esports Partners with Drive Lounge

Guild Esports has partnered with sim racing venue operator Drive Lounge to open a new sim racing facility at...

Business

Dec 09, 2024

News Image
DCB Sports to Acquire Guild Esports

DCB Sports has fully acquired all assets of Guild Esports for £100,000 (approximately $130,181.50) in cash. The new legal...

Mergers and Acquisitions

Oct 16, 2024

News Image
PUBG Mobile Partners with Guild Esports

PUBG Mobile Esports has announced a partnership with UK-based esports organization Guild Esports. As part of this partnership, Guild...

Business

Sep 13, 2024

News Image
Guild Esports Reveals SKY City

Guild Esports has unveiled a new Fortnite map, Sky City, in collaboration with Sky Broadband and gaming studio UMI...

Business

Aug 14, 2024

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