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Game publisher Starbreeze lacks funding to continue operating for the coming 12 months

The Swedish video game publisher expects a "liquidity shortfall" before the mid-year 2019

Raymond Bakker
by
Raymond Bakker
Sunday, May 12, 2019 | 13:42 GMT
2 min.

Game publisher Starbreeze lacks funding to continue operating for the coming 12 months

Sunday, May 12, 2019 | 13:42 GMT
Raymond Bakker
by
Raymond Bakker


Video game publisher Starbreeze currently does not have sufficient funding to continue operating for the coming 12 months, the company noted in its latest quarterly results. If the company doesn't secure funding it will likely cease operation.

The Swedish video game publisher expects a "liquidity shortfall" before the mid-year 2019, if it is unable to secure funding. Last fiscal quarter it noted a profit loss of roughly 15 million euros before taxes.

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The studio has been stuck in corporate restructuring since late last year. It has since sold the rights to several brands and IPs, including System Shock 3 and 10 Crowns. For the latter the company expects to be fully compensated for the costs it has incurred in connection with development of the game.

The PVRK virtual reality park in Dubai that it was the main partner to is also scheduled to be discontinued in the second quarter of this fiscal year, likely because it was unable to gain popularity. Whether it was able to make back its investment in this venture is unknown.

Starbreeze acquired the rights to the Payday franchise in 2016 and is currently still working on Payday 3. The company was founded in 1998.

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Payday 3
Overkill Software
Platforms
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Release date
PC, Xbox One, PlayStation 4, Xbox 360, PlayStation 3, Linux
Tuesday, June 7, 2016
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About the author

Raymond Bakker
Raymond Bakker
Editor and journalist at ZeroLives. He covers the latest video games news from indie to virtual reality and has been actively involved in the video games industry since the early 2000s.
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