Report: Player1 Cuts Staff and Cancels Insomnia Gaming Festival

Reports indicate that Player1 Events has undergone significant restructuring, resulting in the layoffs of a substantial number of employees, potentially the majority of its workforce, and the discontinuation of the long-running Insomnia Gaming Festival in the UK. Former employees have taken to social media to share news of the redundancies. According to sources, the layoffs encompass the entire sales and marketing team, leading some to speculate that the company itself may have ceased operations. Despite efforts to obtain a statement, no official response has been received. Furthermore, it has been reported that all but one of the company's directors have resigned over the past nine years, with the most recent resignations occurring within the last five years. The Companies House listing for Supernova Events and Esports Ltd, the parent company of Player1, indicates that only co-founder and CEO Paul Wedgwood remains as an active director, having been appointed on April 16, 2024, the same day the remaining directors resigned. The last Insomnia Gaming Festival event, i72, took place from March 28 to April 1, with some contractors and freelancers still awaiting payment. The implications of the layoffs and Insomnia's shutdown on other events organized by Player1, such as RuneFest, remain unclear. RuneFest, initially scheduled to return from September 7 to 8, 2024, has had its ticket sales postponed due to unforeseen circumstances. Over 70 Insomnia events have taken place over the past 25 years, primarily at the Birmingham NEC, making them the largest independent esports events in the UK. The Insomnia brand was founded by Multiplay, acquired by UK retailer GAME in 2015, and later rebranded to Player1 Events after being acquired by Supernova Capital in 2021. The collapse of Insomnia leaves EGX and WASD as the primary consumer shows in the UK, with WASD having taken place in April in London and EGX scheduled to co-locate with MCM in October this year.