Eurocom shutting down

James Bond developer Eurocom may soon be no more. The independent studio provided a statement to Eurogamer today announcing that the developer's remaining staff had been let go, with the company itself entering administration in preparation of closing for good. The Derby-based outfit made 150 staff cuts last month, with the remaining 42 made redundant today.

Eurocom's closure was a result of a "steep decline" in sales of console and PC games, the statement said. This led to a "severe contraction" in the number of new games being commissioned from publishers across the world, which specifically affected Eurocom.

Additionally, Eurocom faced "intense competition" from studios in countries with lower development costs or those that benefited from "generous" tax credits.

"The administrator and the company's directors have been negotiating with customers surrounding new contracts to develop console games," the statement goes on. "However, these contracts could not be secured in time, and due to insufficient funds to pay outstanding wages, Eurocom today entered administration."

In addition to the loss of the outfit's remaining 42 positions, Eurocom will cease trading.

Eurocom was established in 1988. It has created dozens of games, with its most recent offerings including the James Bond games 007 Legends and GoldenEye 007: Reloaded, as well as Harry Potter for Kinect, Disney Universe, and Rio.