10tacle Studios AG has filed for insolvency, according to Bloomberg.

Shares in the company have since fallen by 69 cents, or 73 percent, to 26 cents.

10Tacle currently employs over 400 workers across its headquarters in Darmstadt and development sites in Berlin, Duisburg, Hanover, Budapest, Charleroi, London, Singapore and Vienna.

Edge-Online has contacted 10tacle for comment.