Starbreeze’s Acting CEO Will Focus on Obtaining New Investments for the Company
Starbreeze AB “currently lacks sufficient secured funds to continue operating for the coming 12 months,” according to a company financial report published Tuesday.
“Starbreeze and some of its subsidiaries have been in reconstruction since December 3, 2018,” the report read. “The company currently lacks sufficient secured funds to continue operating for the coming 12 months and a liquidity shortfall is expected before mid-year 2019 if no additional funds are provided.”
Starbreeze AB’s acting CEO, Mikael Nermark, described the company’s current situation as “challenging” and added that he plans on obtaining “financing for the company’s future operations.”
“This involves both long-term financing 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,” Nermark said. “Once this financing has been secured, we will be able to look ahead and present a more detailed strategy for the future.”
The games company has had a rocky past few months with the cancellation of the PC version of Overkill’s The Walking Dead and loss of the publishing rights to System Shock 3 in February. There was also last December’s arrest of a former CEO for alleged insider trading (though that CEO was later cleared of those charges by police).
This recent financial news puts into question whether or not Double Fine’s Pyschonauts 2 (which is currently planned to be published by Starbreeze Studios and is scheduled to launch in 2019) will still get published. Double Fine’s CEO Tim Schafer has said that while Starbreeze shutting down “wouldn’t be good“, Psychonauts 2 could end up being published by a different publisher if this hypothetical scenario becomes reality.
What do you think of this news? Let us know your thoughts in the comments section below.