insolvency

Spanish game developer Tequila Works has officially filed for insolvency, as announced by general manager Térence Mosca, who cited challenging market conditions as the reason. The studio, founded in 2009, is known for titles such as Rime, Gylt, and The Sexy Brutale. Earlier this year, Tequila Works experienced layoffs in October, following substantial investment from Tencent. Mosca has transitioned from chief operating officer to general manager amid the insolvency process, which has also seen the departure of the studio's founders.