India’s online-only video game and e-book company, Gameshop, is closing its doors.
The company, which has around 50 employees, announced its closure on its blog.
The shutdown was announced late on Friday, and was confirmed by Gameshop in a statement to The Hindu.
“As a small company, we are currently under financial pressure.
We have had no revenue for the past six months,” it said.
“We are taking all necessary measures to find a viable solution for the future of the company.
Gameshop has always been dedicated to providing the best possible gaming experience to our customers and we will continue to do so in the future.”
It said the shutdown would have a material impact on the company’s operations.
Gameshops parent company Entertainment Games & Technology Pvt Ltd has been struggling with the decline in e-books.
It has been unable to meet its expectations for revenues from the online-exclusive Gameshop.
A few months ago, the company said that it was shutting down its online storefront and its e-shop, and it is now looking to sell the business to another company.
The closure comes on the back of the Gameshop closure.
It is unclear how Gameshop’s operations will be impacted by the shutdown, and the company did not respond to The Wire’s request for comment.