UK-based esports organisation MNM Gaming has entered into administration, according to UK Government platform Companies House.
First reported by Esports News UK, the organisation has been listed on the official government platform as ‘in administration’, a process that occurs when a business can no longer meet debt obligations. As a result, MNM is in the process of closing down, with its assets sold to pay outstanding debts.
Formed in 2014, MNM Gaming (full name Molotovs and Marshmallows) was most known for its Rainbow Six: Siege roster that won several regional events, the most recent being the R6 Central Combine in the summer of 2023. The team also competed in international events such as the R6 Majors and Six Invitationals (between 2022 and 2023).
Previously the organisation also fielded a League of Legends roster that competed in the NLC, one of the European Regional Leagues. The League of Legends team departed the NLC in 2022.
MNM Gaming’s financial troubles became apparent in November 2023 when its Rainbow Six roster departed the company due to unpaid wages and other financial issues. In a statement shared on social media, the Rainbow Six players and staff claimed that more than £200,000 is owed and that they will no longer compete under the MNM name.
The UK’s Companies House platform has listed MNM Gaming as ‘in administration’ since late January 2024. In addition, an insolvency firm was appointed as its administrator in February, providing strong proof of MNM’s financial struggles. The company’s social media has also been dormant for several months.
MNM is the latest victim of a challenging time for the esports and gaming industries. Since the start of 2024, there have been several large rounds of layoffs across major industry players and smaller organisations. ESL FACEIT Group announced that it has laid off 15% of its workforce, Riot Games also fired hundreds and Microsoft laid off almost 2,000 people from its gaming and esports divisions in just the first two months of 2024. In addition, UK esports organisation Vexed has also recently shut down.
Esports Insider reached out to MNM Gaming’s CEO Kalvin Chung for comment.
