Danish CS:GO organization files for bankruptcy, citing economic troubles and missed Majors

Copenhagen Flames has filed for bankruptcy and terminated all personnel, according to a letter penned by CEO Steffen Thomsen today, bringing an end to a prominent Danish organization that’s competed in CS:GO for seven years.

In his letter, Thomsen acknowledged the trend of esports clubs and organizations struggling financially and noted that the past six to nine months have been “absolutely horrendous” in terms of securing partnerships of any kind, whether it be via acquiring new ones or extending current ones. Thomsen said marketing budgets getting slashed reduced the club’s “most important source of income.”

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