As part of the reconstruction under Swedish law, Starbreeze is slowly being restructured.
As part of the reconstruction, assets and personnel attributable to the core business have been transferred to two new companies, New Starbreeze Publishing AB and New Starbreeze Studios AB. IP rights make up the majority of the assets and have been transferred to New Starbreeze Publishing AB. It is in New Starbreeze Publishing AB that the Group’s cash flows will be generated.
Payday 3 is expected to be ready in 2022 or 2023 when its expected to generate much needed cash. Games tend to do well on launch day then it tapers off. DLC can sometimes gain some interest.
Payday: Crime War is depending on a publisher picking up the tab for development pending release. Payday 3 is also depending on a publisher to handle financing.
Payday 2 has been providing a modest cash flow that depends on a population of players. A more and more games are published there is erosion in the number of players. DLC has become the mainstay of the game earnings.
Not enough cash in coming in to handle the debt. The hope is that future earnings can handle that.
The proposals will be put before creditors who will have to figure out what the next move will be.
No date for a court hearing was mention so it’s likely Starbreeze will have to schedule a hearing.