Payday maker Starbreeze completes reconstruction process
Company says series can provide it with “a stable foundation for decades to come”
Starbreeze said on Friday it has successfully completed a year-long reconstruction process.
The Payday maker has been restructuring since December 2018, when it announced plans to streamline its operations to focus on its core games development and publishing businesses, due to a shortage of liquidity.
During the restructuring, the Swedish firm shed staff and sold off assets in a bid to stay afloat, and it has now exited the process with a court approved proposal to repay all its debts.
“Today, we are delighted and proud to announce that we have successfully completed the reconstruction process,” said acting CEO Mikael Nermark.
“It has been a toilsome journey for the entire company over the past twelve months, but we are very pleased to have gained the creditors’ confidence and have succeeded in reclassifying the majority of our debts to long-term to be repaid over five years.
“We have also succeeded in positioning the company in a situation where we can look forward to the future and focus on our core business – to develop games within the Payday franchise.”
Starbreeze aims to secure publishing deals for Payday 3 and mobile game Payday: Crime War in the first half of 2020.
“Our most important brand has great potential to provide the company with a stable foundation for decades to come,” Nermark said.
Starbreeze subsidiary Overkill Software recently restarted Payday 2 development, with plans to release new paid and free content.
