Is Reto-Moto still in business in 2026?

No. Reto-Moto ApS filed for bankruptcy in Denmark on 7 March 2022, about a month after selling its only asset, Heroes & Generals, to TLM Partners on 3 February 2022. The Danish entity has no operations, revenue, or employees today.

Who owns Heroes & Generals now that Reto-Moto is gone?

TLM Partners, based in Irvine, California, acquired the Heroes & Generals game, code, and team from Reto-Moto on 3 February 2022, operating it afterward as TLM Games. Reto-Moto ApS itself went bankrupt the following month.

Was Heroes & Generals profitable before it shut down?

No. TLM Games, which took over the title from Reto-Moto in February 2022, stated on 11 April 2023 that Heroes & Generals 'hasn't been profitable for a very long time,' shortly before shutting down its servers on 25 May 2023.

Did Reto-Moto's Heroes & Generals sequel ever launch?

No. TLM Games announced 'Heroes & Generals 2: The Next War' with a Kickstarter launched 13 February 2023, but the campaign reportedly failed to reach its funding goal, and no sequel has released as of this writing.

Could you invest in or join Reto-Moto today?

No, there is no company to join. Reto-Moto ApS is a legally defunct Danish entity, bankrupt since 7 March 2022, with its sole product already sold off. Any offer citing 'Reto-Moto' should be verified against the Danish CVR business registry.

Who are Reto-Moto's biggest competitors?

When Heroes & Generals was active, it competed against larger free-to-play military shooters War Thunder (Gaijin Entertainment), World of Tanks/World of Warplanes (Wargaming), Enlisted (Gaijin/Darkflow), and Battlefield (EA/DICE), all of which outlasted it.

Gaming companies · absorbed · Denmark

Reto-Moto

reto-moto.com ↗

Defunct Danish studio that made Heroes & Generals, bankrupt since 2022.

Little protection left

Assessed 23 July 2026 · Evidence as of 23 July 2026

Not much stands between this business and its pressures.

On the recordSince 23 July 2026 · Checkable from unscheduled · Every call on the record Checkpoint: TLM Games update on Heroes & Generals 2 status, or any Danish CVR filing showing entity revival

The call

Reto-Moto ApS stopped existing as an operating company in 2022. The game lives on under TLM Games, a separate entity.

Reto-Moto ApS was a video game studio that made Heroes & Generals, a free-to-play World War 2 shooter. The company went bankrupt in March 2022 after selling its game and team to TLM Partners in February, so there is nothing left to evaluate: no employees, no revenue, no product updates, and no company to invest in. If someone claims to represent Reto-Moto today, check whether they actually work for TLM Games (the current owner in California), one of the founders' newer studios, or are referring to the defunct legal shell, because each is a completely different situation.

Why

AI pressure: None apparent. There is no company left for AI to eat. The studio has no team, product, or roadmap to disrupt. Could AI do the core job? Yes, likely.

Bigger players: War Thunder (Gaijin Entertainment), Enlisted (Darkflow), World of Tanks (Wargaming). These already won the free to play military shooter category while Reto-Moto's parent entity went bankrupt in 2022. Could a giant copy it? Yes, easily.

What protects it. None. Reto-Moto ApS is a dissolved legal entity with no assets, staff, or revenue to protect.

What would change this call

TLM Games issues any public update on Heroes & Generals or a sequel. Shows whether the acquired IP is still active under new ownership, separate from Reto-Moto.
Danish CVR registry shows any change to Reto-Moto ApS status (e.g. re-registration). Would indicate the defunct entity has been legally revived or restructured.
Wombo Games (Janos Flösser's studio) announces a funded product tied to former Reto-Moto team. Would show former founders building a new operating company, not a revival of Reto-Moto itself.

Key numbers

Bankrupt since 7 March 2022 (2022-03-07)
Game IP sold to TLM Partners, Feb 2022 (2022-02-03)
10 employees left, down 29% YoY (2022-04-19)

Named risks

Reto-Moto ApS is legally bankrupt since 2022-03-07 with no operating entity to evaluate. Severity: high
Brand confusion: offers citing 'Reto-Moto' may actually involve TLM Games or founders' unrelated new studios. Severity: high
Sole IP asset, Heroes & Generals, already sold off and later shut down, leaving no product. Severity: high
Successor's sequel Kickstarter failed, indicating no funded path to revive the franchise. Severity: medium
Unverified fan-run server revival could create legal or IP disputes unrelated to Reto-Moto itself. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
War Thunder (Gaijin Entertainment)	losing to	Larger F2P military shooter outlasted Heroes & Generals, which shut down 2023-05-25
World of Tanks / World of Warplanes (Wargaming)	losing to	Bigger incumbent F2P military franchise still operating as Heroes & Generals folded in 2023
Enlisted (Gaijin/Darkflow)	losing to	Newer rival F2P WWII shooter remained active post-2023 while Heroes & Generals ceased
Battlefield (EA/DICE)	losing to	Major-studio franchise dwarfed niche indie title commercially throughout its run
IO Interactive	losing to	Sibling studio founded by ex-Reto-Moto members thrives with Hitman series as of 2026-07-07, unlike defunct Reto-Moto

Questions people ask

Is Reto-Moto still in business in 2026?: No. Reto-Moto ApS filed for bankruptcy in Denmark on 7 March 2022, about a month after selling its only asset, Heroes & Generals, to TLM Partners on 3 February 2022. The Danish entity has no operations, revenue, or employees today.
Who owns Heroes & Generals now that Reto-Moto is gone?: TLM Partners, based in Irvine, California, acquired the Heroes & Generals game, code, and team from Reto-Moto on 3 February 2022, operating it afterward as TLM Games. Reto-Moto ApS itself went bankrupt the following month.
Was Heroes & Generals profitable before it shut down?: No. TLM Games, which took over the title from Reto-Moto in February 2022, stated on 11 April 2023 that Heroes & Generals 'hasn't been profitable for a very long time,' shortly before shutting down its servers on 25 May 2023.
Did Reto-Moto's Heroes & Generals sequel ever launch?: No. TLM Games announced 'Heroes & Generals 2: The Next War' with a Kickstarter launched 13 February 2023, but the campaign reportedly failed to reach its funding goal, and no sequel has released as of this writing.
Could you invest in or join Reto-Moto today?: No, there is no company to join. Reto-Moto ApS is a legally defunct Danish entity, bankrupt since 7 March 2022, with its sole product already sold off. Any offer citing 'Reto-Moto' should be verified against the Danish CVR business registry.
Who are Reto-Moto's biggest competitors?: When Heroes & Generals was active, it competed against larger free-to-play military shooters War Thunder (Gaijin Entertainment), World of Tanks/World of Warplanes (Wargaming), Enlisted (Gaijin/Darkflow), and Battlefield (EA/DICE), all of which outlasted it.

Timeline

2026-06Unverified single-source report of fan-led 'Sunrise' project reviving Heroes & Generals servers
2025-04Reto-Moto co-founder Janos Flosser launches new studio Wombo Games with Raiders of Blacksveil
2023-05-25Heroes & Generals servers permanently shut down
2023-04-11TLM Games states Heroes & Generals hasn't been profitable for a long time
2023-02-13TLM Games launches Kickstarter for Heroes & Generals 2: The Next War; campaign later fails
2022-03-07Reto-Moto ApS files for bankruptcy in Danish official gazette
2022-02-03Reto-Moto sells Heroes & Generals business, code and team to TLM Partners
2017-12-06Nordisk Film Games invests $5 million for a minority stake in Reto-Moto
2016-09-23Heroes & Generals officially released, reaching 8.5 million players
2008-04Reto-Moto brand relaunched by former IO Interactive founders and Neil Donnell

Revision history

23 July 2026

First assessed. Little protection left. The text above is fixed as of this date and is not edited afterwards.

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