Footstock have today announced that they have surrendered their UKGC License and will cease trading with immediate effect.
Players have been told to wait for news on their funds and affiliates have also been advised to pull down any marketing materials and links pushing traffic to the Footstock website.
The below communications were sent to players around an hour ago:
I am announcing with deep regret, that Footstock has surrendered its UK gambling licence and ceased trading with immediate effect.
The whole sector has been shaken by recent events. As a result, over the last few days, we have suffered significant setbacks.
Expected and necessary funding being put on ice, we can no longer run our Seedrs campaign and valuable partners are pausing cooperations.
These unprecedented circumstances have crushed our company in this crucial period of growth. But without funding, Footstock cannot survive.
Over the last few days, we tried incredibly hard to find a solution that allows us to stay operational. But ultimately, I am sorry to announce that Footstock has entered the German equivalent of UK administration and we have had to suspend the platform.
Over the coming weeks, we will continue to consult with our professional advisors and keep you informed on the next steps as soon as we are able to, including information about your cash balances.
Thank you for your loyal support. It is with great sadness that we have had no option but to take these steps.
We will update this page with more information as soon as Footstock release news on how the will return the balances that players have within the site.