10Tacle Goes Bankrupt, Elveon All But Cancelled

[GameBanshee News]

WorthPlaying is reporting that 10Tacle Studios has gone bankrupt, which most likely means that we'll never get our hands on their PC/Xbox 360 RPG Elveon.

Since January 2008 10Tacle stocks plunged from its former high of 14€/share down to a historical low of less than 1€. Cause of the problem was twofold, various properties sold below expectations (Jack Keane, Warfront: Turning Point, Panzer Tactics) while other high profile/expensive titles (Elveon, Totems) got delayed. In March 2008 CEO Michele Pes was replaced by Joachim Magin who laid off 25% of its employees in a restructuring effort and canceled the acquisition of The Games Company. Fate of titles such as Black Prophecy, Elveon, Totem (studio has to shut down), Codename Panzers: Cold War is unknown.