Eurocom has ceased all operations, having let go their 50 remaining staff. The developer of 007 Legends and GoldenEye for Wii has entered administration, which is the British version of bankruptcy.
"Since 2008, there has been a steep decline in the sales of Console and PC games, which has led to a severe contraction in the number of new games being commissioned from global publishers of entertainment software,” said Eurocom in a statement. “The company has also faced intense competition from developers in countries with lower costs or those subsidized with generous games tax credits.”
"As a result, the remaining 42 employees have been made redundant today and the business has ceased to trade after some 25 years, having grown organically to become one of the largest and most prolific independent console games developers worldwide,” the statement added. "The Directors of Eurocom would like to offer their heartfelt thanks to all their staff that have been made redundant at this difficult time, and show their appreciation of all of their hard work in consistently delivering exceptional games."
The company noted that efforts are being done to help the developers in the city of Derby, England. While the company's administrator expressed hope that there will still be a place for game software development in Derby, he noted that the death of Eurocom marks the end of console game development in the region.