ENCE eSports Oy's board has decided to file for bankruptcy, ending the Finnish organization's 13-year run, according to a statement the company posted to X on Monday. The statement thanked players, staff, partners and fans. It gave no reason for the decision.

As of Monday, Finland's trade register showed no bankruptcy entry for the company. ENCE has not said when or with which court it will file the petition.

The Esports Advocate reports that the company's revenue peaked at €6.3 million ($7.1 million) in 2023. Financial statement data published by Kauppalehti and figures reported by eUrheilu.com show revenue fell 79% between 2023 and 2025, to €1.32 million ($1.48 million). The 2025 operating loss was €993,210 ($1.11 million), according to the same data.

Kauppalehti's figures put ENCE's equity ratio at 56.6% at the end of 2025, on a balance sheet that had shrunk to €536,056 ($599,739). The report implies equity of about €303,000 ($339,000). No 2026 accounts are public.

The report links the decline to several events. In December 2023, ENCE sold its core Counter-Strike roster to Team Falcons, according to ENCE. ENCE did not disclose the price. Results fell in 2024, and prize money dropped from about $717,000 in 2023 to about $227,000 in 2024, according to Liquipedia's records as tallied by The Esports Advocate.

The report also says Valve changed its rules for 2025, ending ESL's arrangement that gave partner teams a permanent Pro League slot and a share of league revenue. eUrheilu.com estimated that arrangement was worth hundreds of thousands of euros a year to ENCE. HLTV reported that ENCE has not played at an event it rates as top tier since September 2024, and that its current lineup ranked 103rd in Valve's global ranking.

In March, ENCE benched its international Counter-Strike 2 roster and coaching staff to rebuild around Finnish players. The company said in a statement: "Unfortunately, in the current esports ecosystem, this has become increasingly difficult for organizations like ours." In March, CEO Mika Kuusisto stepped down after more than seven years. He wrote that the company "has been in a massive turnaround period involving extensive restructuring." Kuusisto said he would remain on the board.

Still unknown are when and where the petition will be filed, who will administer the estate, the size of ENCE's liabilities, and who its creditors are. The report also does not say what will happen to the players' contracts or to the ENCE brand.