Does Starbreeze Have Less Than A Year Left?

If they don’t get money, the Swedish company will entirely bite the bullet by 2020.

One of the biggest stories of late 2018 was how Overkill’s (who developed Payday) The Walking Dead performed badly on PC, which is why the publisher lost a ton of money, and thus, they dropped several publishing deals (System Shock 3, 10 Crowns), as well as cancelling the console versions, plus stopping development on the PC version, as Skybound Games have terminated the contract with them. (They also let go forty people out of 622.)

Starbreeze’s newest financial report for the January-March quarter says the company ended with a gross loss of 122773 Swedish Krona (about 12.8K USD), despite Payday 2 selling nicely. However, there might be a liquidity shortfall coming up, which is why they might even be forced to close their doors. „Starbreeze and some of its subsidiaries have been in reconstruction since 3 December 2018. The company currently lacks sufficient secured funds to guarantee continued operations for the next 12 months and is expected to have a liquidity shortfall before mid-year 2019 if no additional funds are provided. These conditions indicate that there are significant uncertainties that can lead to significant doubts about the company’s ability to continue its business,” the company wrote in its financial summary. In other words: if someone doesn’t stand behind them with their backing, they will fall. (Perhaps THQ Nordic AB, who went on a massive expansion spree last year, should acquire them. They are another Scandinavian-based company after all…)

„We are in a challenging situation. I stand united with the entire Starbreeze team in the efforts to get the business in order. We have a very strong asset in Payday, which is the foundation upon which we will build Starbreeze’s future. My main task is to secure financing for the company’s future operations. This involves both long-term financings we can use to build the Starbreeze of the future but also making sure that the assets we have determined are unrelated to the core business are managed in a commercially viable way. Once this financing has been secured, we will be able to look ahead and present a more detailed strategy for the future,” Mikael Nermark, Starbreeze’s acting CEO said.

So, Starbreeze is in some deep sh_t…

Source: PCGamer

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