According to a report from the Financial Times, the London-based hedge fund that suffered losses when it went short on U.S. retailer GameStop Corp’s shares, during the first meme stock rally earlier this year in January, is now closing shop.

In a statement White Square Capital informed investors that it will close its main fund and return capital later this month following a review of its business model.

White Square suffered double-digit percent losses in January. White Square did not respond to requests for comments outside of regular U.K. business hours.

Categories: Creativity, Entrepreneurship, HR & Organization, Strategy

Tags: Britain, business model, first meme stock rally, GameStop Corp, hedge fund, London based, review, shares, short, shorting, stocks, suffered losses, UK, United Kingdom, White Square Capital