Guild Esports is in Financial Trouble

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 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:

Sources:

Report mistake Submit news

Related news

View All

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Guild Esports, the UK-based esports organisation once famously backed by football legend David Beckham, has officially announced its closure. Citing...

Drama

Aug 22, 2025

Guild Esports Up for Sale Again

Guild Esports is reportedly on the market for acquisition, less than a year after being purchased by U.S.-based investment firm...

Mergers and Acquisitions

Aug 15, 2025

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...

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Feb 21, 2025

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...

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

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