London-based hedge fund that bet against GameStop shuts down – FT By Reuters

(Reuters) – A London-based hedge fund that suffered losses betting against U.S. retailer GameStop Corp (NYSE:GME) during the first meme stock rally in January is shutting down, the Financial Times reported on Tuesday.

White Square (NYSE:SQ) Capital has told investors that it will shut its main fund and return capital this month after a review of its business model, the newspaper said, citing people familiar with the fund and a letter to investors.

White Square suffered double-digit percent losses in January, the report added https://on.ft.com/3gIEJJR.

The firm did not respond to a Reuters request for comment outside of regular U.K. business hours.