Payday publisher Starbreeze has had a rough time over the last few years, but in its financial report for 2020, the Swedish company says that its “thirsting for revenge” and is in a much stronger position than it was previously.
“Starbreeze is a much stronger company today than it was one year ago,” acting chief executive Tobias Sjogren told investors. “We are hugely confident, thirsting for revenge and thrilled to be able to focus to the max on developing our IP with Payday front and center.”
That doesn’t mean that Starbreeze is out of danger just yet, as the company needs to find a publisher for Payday 3 and additional funding if it wants to avoid a repeat of its dismal 2018-2019 period.
“Without additional financing, liquidity injections from divestitures or distribution agreements for Payday 3, the company could experience a liquidity shortfall in the fourth quarter of 2021,” the company wrote in the Risks and uncertainties section of its report. “This entails risk that the company will not have sufficient secured funds to guarantee continued operations for the next 12 months.”
In late 2018, Starbreeze went into administration for almost a year. Its offices were also raided by the Swedish police in December that year on suspicion of insider trading. By the last quarter of 2020, Starbreeze had finished paying off its creditors and had reduced its losses. Overkill’s The Walking Dead video game didn’t help the studio much either, as that poorly-received co-op shooter ran into difficulties of its own after release.
Payday 3 is still a long way off from being published though, as Starbreeze confirmed in 2019 that it was aiming for a 2022/23 release date.
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