Tequila Works, the event studio behind the likes of RiME, GYLT, Track of Nunu: A League of Legends Story and The Horny Brutale, has introduced that it has been compelled to file for insolvency.
The Madrid-based studio’s founding members have every stood down from their respective positions, resulting in Térence Mosca being appointed basic supervisor.
In line with an announcement from Mosca (through GamesIndustry.biz), “extended market situations” have meant that the studio may not meet its monetary obligations, leaving the insolvency submitting as the one choice. “We’re doing all the pieces we are able to to supply assist and steering to our groups throughout this troublesome time”, he continued.
As outlined in Mosca’s assertion, the studio was based in 2009 with a design philosophy of “creating issues with gusto”. The newly-appointed GM mentioned he was “happy with what [the team] has achieved collectively” in that point.
Tequila Works secured a main shareholder funding from Tencent again in 2022, with the customer stating that its takeover “permits us to make Tequila Works a stronger studio”. Regardless of this, the developer has been one of many many studios topic to employees layoffs this 12 months, with a LinkedIn submit final month confirming the cancellation of an unannounced sport had led to restructuring.
The studio’s newest sport, Gylt, launched on the Swap eShop again in March 2024.
