informa
/
News

Starbreeze CEO departs as company files for administration

Starbreeze has filed for administration after the underwhelming launch of Overkill's The Walking Dead left the company in dire financial straits. 

Starbreeze has filed for administration after the underwhelming launch of Overkill's The Walking Dead left the company in dire financial straits. 

It's only been a few days since the Swedish developer-publisher revealed it was cutting costs and refocusing on its core business with The Walking Dead struggling to pull in sales, but the news still comes as a surprise. 

The situation looks to be much worse than was initially anticipated, and Starbreeze has explained the game's latest sales statistics have affected its financial forecast, resulting in a shortfall of cash in January 2019. 

With the firm going through the wringer, Starbreeze CEO Bo Andersson has resigned effective immediately, and will also be departing the company's Board of Directors. 

"The board of Starbreeze AB and the boards of the Company’s Swedish subsidiaries Starbreeze Publishing, Starbreeze Production, Starbreeze Studios, Enterspace and Enterspace International, have today filed for reconstruction with the Stockholm District Court," explains a press release

"The decision is based on a shortage of liquidity and deemed to be a necessary step to give the company the time needed to negotiate a long-term financial solution and implement changes in the organization and operations. The financial targets for Q4 2018 and 2020 no longer applies."

Starbreeze has reassured staff that its reconstruction framework will include employee salaries, and that day-to-day operations will continue as usual.

Latest Jobs

Sucker Punch Productions

Bellevue, Washington
08.27.21
Combat Designer

Xbox Graphics

Redmond, Washington
08.27.21
Senior Software Engineer: GPU Compilers

Insomniac Games

Burbank, California
08.27.21
Systems Designer

Deep Silver Volition

Champaign, Illinois
08.27.21
Senior Environment Artist
More Jobs   

CONNECT WITH US

Register for a
Subscribe to
Follow us

Game Developer Account

Game Developer Newsletter

@gamedevdotcom

Register for a

Game Developer Account

Gain full access to resources (events, white paper, webinars, reports, etc)
Single sign-on to all Informa products

Register
Subscribe to

Game Developer Newsletter

Get daily Game Developer top stories every morning straight into your inbox

Subscribe
Follow us

@gamedevdotcom

Follow us @gamedevdotcom to stay up-to-date with the latest news & insider information about events & more