Copenhagen Flames, a Danish esports organization, has stated that they have filed for bankruptcy and terminated all employees.
CEO Steffen Thomsen clarifies that they made their decision after they could not find enough financial help to maintain the club’s operations.
Just two weeks ago, Copenhagen Flames reported that they were searching for a $740,000 investment that could help them to balance their books and establish several projects which would ensure their financial success through 2024 as well as beyond.
According to Copenhagen Flames, they define themselves “Ajax of Esports” with pride because of their capability of raising young and talented players and transferring them to make a profit. In 2021, their CSGO team made the impossible and qualified for PGL Major Stockholm with barely known players which is repeated by reaching the playoff stage of PGL Major Antwerp.
