In the latest hit to the esports industry, UK-based tournament organiser and esports firm, Promod, has filed for bankruptcy. This was confirmed by posts on social media from former employees of the company, claiming that ‘all the staff’ had been made redundant. As further reports surfaced, it was claimed that Promod Esports had outstanding payments owed to casters and players at the time of the bankruptcy filing being processed.

As a smaller firm in the European esports scene, Promod was responsible for the organisation of some VALORANT Challengers events, as well as some Rainbow Six tournaments. Outside of that, Promod was a prominent player in the UK, partnering up with ESI London and supporting Guild Esports during some special exhibition events.

The Waves Keep Rolling

In an exclusive report published by The Esports Advocate, it was revealed that Riot Games had formally parted ways with Promod. It was stated that Promod was intended to host the VALORANT Challengers Northern Europe event, but owing to these recent developments, Riot will be seeking a new organiser going forward.

It’s a blow to the UK esports scene, and it was only in 2019 that Promod Esports was founded. It was built from the ground up by industry experts and gaming veterans, and the firm’s hierarchy is made up of those representing some of the highest echelons of gaming in Europe. Those brands include the likes of UKIE, Hotdrop, and ESL FACEIT. Promod is the latest in a long line of companies to be deeply impacted by the ongoing struggles presented by the economic climate in the industry.

On social media, former employees of Promod sought support and understanding at this difficult time. They came together to share memories of happier times at Promod and reluctantly became additions to the sea of thousands of employees hit by layoffs in the last year or so in esports and gaming.

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