Esportal and Inferno Online declare bankruptcy.

On Wednesday, the shocking news came that Esportal Group AB has filed for bankruptcy after several tough years for the e-sports company. Both the Esportal platform, where users can play matches in Counter-Strike, and the popular gaming centers Inferno Online are part of the group.

An extensive review by Expressen of the economy in the e-sports industry showed that the company made a massive loss for the fiscal year 2022, with an operating result of -42.1 million kronor.

”Funding has over the years been through multiple new share issues and loans from major private shareholders. The group also received so-called corona deferrals from the Swedish Tax Agency in 2023,” Esportal AB wrote in a statement.

However, the necessary financing for the company to continue operations has failed to materialize, and the company’s debt level is considered unsustainable going forward. As a result, Esportal Group AB has now filed a bankruptcy application with the district court.